Uber is shaking up the rental-car business
Undercutting competition by burning unlimited amounts of investor cash is part of Uber’s business model.
Shares of rental-car conglomerate Hertz Global Holdings closed at $14.98 on Friday, after reaching an all-time low of $14.32 on Thursday. These shares have only been around since last June, when Hertz spun off its equipment leasing division. They’ve plunged 73% from their high last July.