Investing.com â ???? Avis Budget Group Inc (NASDAQ:
) Â Shares soared Tuesday morning after a strong third quarter earnings report, which saw revenue nearly double year-over-year as demand for car rentals returned.
Avis stock shot to a high of $ 545.11 and is currently around the $ 345 mark, up 102% after retailers drove to the stock in droves.
The strong result came after a run of short interests in recent years Months. Avis stock has already been paused several times today due to volatility.
Before its third quarter earnings, the company had already made fantastic profits in 2021, rising from around $ 35 per share to its high of $ 179.82 on Monday
According to the APE Wisdom website, today’s move has made Avis one of the top trending stocks on social media and one of the four most talked about stocks on the Reddit WallStreetBets forum.
About it Morgan Stanley analyst Billy Kovanis also raised the target price for Avis from $ 110 to $ 140. However, the analyst kept the stock underweight.
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