Hertz Global Holdings Inc.
(NASDAQ:HTZ) stock traded lower Thursday after Pershing Square CEO Bill Ackman stated on a conference call that the fund fully exited its stake in the company, according to Benzinga Pro.
Pershing Square owned approximately 15.2 million shares of Hertz, making the stock the 10th-largest holding in the firm’s portfolio, according to its disclosed holdings.
The movement follows Wednesday's trading trends tied to continued chatter about short interest.
Retail traders crowded into the stock following last week's earnings surprise, drawn by high short interest with roughly 73% of available stock sold short.
