The Hertz stock is trading at its highest price in more than two months: $3.21
The Herz stock is now trading at a price that is up over 40 percent from its March 20 close.
The stock has been on a bull run for months, but its latest rally has been driven by bullish sentiment from analysts.
Herz’s stock closed down as much as $1.75, or roughly 7.4 percent, in early morning trading.
The company’s shares are down more than 10 percent from their closing price in February.
Hertz has been bullish on the future of high-frequency trading and has been using its new investment vehicles to buy more assets.
Its $1 billion acquisition of chipmaker ARM in March was widely seen as a way to boost the company’s profitability, which has seen the stock rise from around $10 to more than $20.
It has since been valued at around $2 billion.
On Tuesday, Hertz’s stock hit a new all-time high of $3,221.80.
Hertz shares are up about 5.4% over the last two months.