Hertz Slides After Profit Warning on Used Car ‘Softness’

Hertz Global Holdings Inc. shares experienced their steepest decline in two years following a profit warning, attributing the drop to "softness" in the used car market. The company indicated that earnings for the current quarter are trending towards the lower end of their forecasts. This downturn comes as Hertz also announced plans to issue shares and notes, which added to investor concerns. The situation underscores broader challenges in the used car market that could impact other rental and automotive businesses as well.