So, you know how when you rent a car, you're basically just borrowing a depreciating asset for a few days? Well, it turns out that asset might be depreciating a bit slower these days. Shares of Hertz Global Holdings Inc (HTZ) are getting a nice lift on Wednesday, and the reason is pretty straightforward: used cars are getting more expensive.
Hertz Stock Gets a Used-Car Boost
MarketDash
Hertz shares are climbing as a key index shows used vehicle prices hitting their highest level in nearly three years, tightening supply and boosting the rental giant's fleet value.
Get Hertz Global Holdings Inc (New) Alerts
Weekly insights + SMS alerts
Used Cars Are Hot Again
Remember the Manheim Index? It's the big benchmark for wholesale used car auction prices across the U.S. According to reports, it just popped 6.2% last month. That puts it at the highest level we've seen since the summer of 2023. For a company like Hertz that owns a massive fleet of vehicles, this is basically good news for the balance sheet. The cars they eventually sell are worth more.
Where Did All the Cars Go?
The price jump isn't happening in a vacuum. Cox Automotive reports that demand for used vehicles is holding up just fine, thank you very much. Meanwhile, the supply of available vehicles fell below 40 days in March. For context, that's the lowest inventory level we've seen all year. When there are fewer cars to go around, prices tend to go up. Cox expects retail prices to climb another 2% or so throughout the rest of 2026, and they've even nudged their full-year sales forecast up to 20.4 million units.
What the Charts Are Saying
Let's talk about the stock itself. At $5.99, HTZ is trading a solid 36.4% above its 20-day simple moving average and 20.7% above its 100-day average. That's a strong near-term move. The relative strength index (RSI), a momentum gauge, is sitting at 73.70. For the technically inclined, that's in "overbought" territory, which is a fancy way of saying the rally might be getting a little tired and could take a breather.
There's also the ghost of trends past. A "death cross"—where the 50-day moving average fell below the 200-day—formed back in November. That pattern highlighted a longer-term downtrend that's only recently started to repair itself. So, while the short-term action is bullish, the longer-term picture is still in recovery mode.
For traders watching the levels, key resistance sits at $6.00, with support down near $5.00.
The Short Seller Angle
Here's another piece of the puzzle: a lot of people are betting against this stock. The short interest on Hertz is approximately 48.97%. That's a huge number. It means when the stock goes up, like it did today, those short sellers start feeling the heat and might have to buy shares to close their positions, which can push the price even higher. It's a dynamic that can make moves more volatile.
Speaking of today's move, Hertz shares were up 4.08% at $6.12 at the time of publication.
More News
Peace Breaks Out, Markets Party: Stocks Hit One-Month High as Iran Ceasefire Crushes Oil Prices
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning
Oil Crashes 17% as Trump Announces Ceasefire, Sending War-Battered Stocks Soaring
Fed's Goolsbee Warns: Iran Conflict Could Spark 'Stagflationary Outbreak'
Hologic Goes Private in $18 Billion Deal with Blackstone and TPG
Trump's Secret Retirement Fund
Applied Materials Unveils 2nm Chip Tools, Stock Rides AI Wave and Geopolitical Relief
Oil Crashes 13% After Trump's Iran Truce: Are Energy ETFs Just Headline Plays Now?
Get Hertz Global Holdings Inc (New) Alerts
Real-time alerts on price moves, news, and trading opportunities.
Join 20,000+ investors. No spam, ever.
Featured Articles
View all newsPeace Breaks Out, Markets Party: Stocks Hit One-Month High as Iran Ceasefire Crushes Oil Prices
By MarketDash
April 8, 2026
Make This One Trade at 2:59 PM on Friday Afternoon, and you'll Thank Me Monday Morning (Ad)
By Timothy Sykes
Oil Crashes 17% as Trump Announces Ceasefire, Sending War-Battered Stocks Soaring
By MarketDash
April 8, 2026
Fed's Goolsbee Warns: Iran Conflict Could Spark 'Stagflationary Outbreak'
By MarketDash
April 8, 2026
Hologic Goes Private in $18 Billion Deal with Blackstone and TPG
By MarketDash
April 8, 2026
How To Claim Your Pre-IPO Stake In SpaceX! (Ad)
By Paradigm Press
Applied Materials Unveils 2nm Chip Tools, Stock Rides AI Wave and Geopolitical Relief
By MarketDash
April 8, 2026
Oil Crashes 13% After Trump's Iran Truce: Are Energy ETFs Just Headline Plays Now?
By MarketDash
April 8, 2026