Shares of Avis Budget Group, ticker 'CAR,' soared from under $100 last month to a record high near $850 in early trading Wednesday before a sharp U-turn lower intraday.

Avis shares have skyrocketed in a matter of weeks, reminding investors of meme stocks like GameStop.

Shares of Avis Budget Group, ticker 'CAR,' soared from under $100 last month to a record high near $850 in early trading Wednesday before a sharp U-turn lower intraday.