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Avis Stock Surges After Strong Earnings Make It the New Meme -Breaking


© Reuters.

By Sam Boughedda — Avis Finances Group Inc (NASDAQ:) shares have rocketed Tuesday morning following a robust third-quarter earnings report, which noticed its gross sales practically double from a 12 months in the past as demand for automobile leases comes again. 

Avis shares shot as much as a excessive of $545.11 and are presently sitting across the $345 mark, representing a 102% achieve after retail merchants flocked to the inventory.

The sturdy earnings got here following a run-up of quick curiosity prior to now few months. Avis inventory has already been halted a number of instances for volatility at present. 

Previous to its third-quarter earnings, the corporate had already made incredible positive factors in 2021, climbing from round $35 per share to its excessive of $179.82 on Monday. 

Based on the APE Knowledge web site, at present’s transfer has seen Avis turn out to be one of many high trending shares on social media and one of many high 4 most mentioned shares on the Reddit WallStreetBets discussion board.

As well as, Morgan Stanley analyst Billy Kovanis raised the value goal on Avis to $140 from $110. Nevertheless, the analyst stored an underweight ranking on the shares. 

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