Overview

• Pershing Square Capital Management, led by Bill Ackman, now holds a 19.8% stake in Hertz, making it the company’s second-largest shareholder.
• Hertz’s stock has surged over 50% since the stake disclosure, reflecting investor optimism about a potential turnaround.
• Ackman’s investment thesis includes management changes, capital structure optimization, and leveraging Hertz’s fleet and infrastructure for profitability.
• A proposed partnership with Uber on an autonomous vehicle fleet could improve fleet utilization and profitability, though this remains speculative at this stage.
• Hertz is addressing recent cybersecurity concerns following a disclosure of a potential customer data breach involving sensitive information.