Why Hertz Global's Stock Is Trading Lower Today

Hertz Global Holdings, Inc. HTZ shares are trading lower after the company reported a $500 million common stock shelf offering.

The company announced it intends to use the net proceeds from this offering payable to us for general corporate purposes despite having no current specific plans or commitments.

Hertz Global operates an automotive vehicle rental service through the Hertz, Dollar, Thrifty, and Firefly brands.

Hertz Global's stock was trading down 15.63% at $2.38 per share on Monday at the time of publication. The company has a 52-week high of $2.72 and a 52-week low of $2.12.