Hertz bankruptcy and stock value?

Chances are they will value your shares at Zero, and issue new stock-of which you will get NONE>

The stock of a bankrupt company is worth nothing.

Hertz Global Holdings, HTZ:NYSE, closed Friday the 22nd at $2.84 -0.23 (-7.49%) and showed $1.82 as trading price last bid and asked. Monday the 25th markets closed for Memorial Day. Price rose to about $20 into late February and crashed with Covid-19 to where it is now, with an intermediate bounce to about $7 or so. Yes, they filed for bankruptcy, seeking to restructure and continue to operate. Debt holders can do well, but common shares are on the way to worthless.

They have taken on $20 billion in debt and operating at a loss. Their balance sheet shows negative $3 billion tangible net worth even with intangible accounting paper value higher. The shares are generally worthless. There was heavy short selling, but unknown how many closed out their positions versus stragglers desperate for shares now. I would bail out as soon as possible.

I did take some small investment risks seeking companies with high earnings and tangible assets. I do not advise buy or sell, but these are my personal choices.

COP Conoco Phillips probably too late to buy now, CMC Commercial Metals Co now @ $16.20 with 1 year range 10.76 - 24.04  is just over book value with a good earnings outlook and dividend, MTG mgic Mortgage Insurer at $7.61 has analysts baffled with $4.2billion net tangible assets and decent earnings against a $2.5B market cap 52 week range $4.34 - 15.24 is a good risk play, OMF OneMain Holdings is a personal lender and at $21.67 is another wild ride potential range $12.21 - 48.92, KSS Kohl's Dept Stores has 1500 stores and oodles of inventory and a one year stock price range of 10.89-59.28 and price is half its tangible book. UAL United Airlines I have not bought yet, but is an interesting play at $25.40 with $17.80 - 96.03 range 

Sell monday. Its going to go lower & lower & then either be worthless or you get a way out of the money option that is effectively worthless.