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Hertz Global Holdings Inc (NASDAQ:HTZ) shares are moving higher in Tuesday’s after-hours session after the company announced it received notification of a settlement distribution.
Check out HTZ stock here.
What Happened: Hertz said it will receive a pro rata settlement distribution of approximately $154.05 million in connection with the company’s participation in a class action settlement, Automotive Parts Antitrust Litigation.
Hertz expects the settlement distribution to be paid on or around Sept. 30. The company had approximately $503 million in total cash and cash equivalents as of June 30.
By now, you're likely curious about how to participate in the market for Hertz — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
HTZ Price Action: Hertz shares were up 2.01% in after-hours, trading at $7.10 at the time of publication on Tuesday, according to Benzinga Pro.
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Posted In: HTZ
