Why Avis Budget Group Stock Drove Higher This Week

Shares of rental car institution Avis Budget Group (NASDAQ: CAR) soared this week. After astir moving 50% supra past Friday's close, the banal remained astir 38% higher for the week arsenic of mid-day Friday trading, according to information provided by S&P Global Market Intelligence.

Airport chaos is making headlines, and statistic amusement that agelong lines astatine immoderate airdrome information checkpoints are sending consumers to the rental car counter.

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As the partial authorities shutdown continues to impact home airports, much travelers are considering renting cars. Avis Budget adjacent Hertz Global is seeing an astir 15% surge successful web traffic, according to reports. That implies that travelers are either avoiding flying to bypass airdrome congestion oregon making backup plans successful lawsuit of missed flights during the outpouring question season.

Risks stay precocious for Avis Budget banal successful some directions. Retail traders made the banal a meme banal successful 2021, driving it to implicit $350 per share. As of mid-march, 23.5% of the interval was inactive sold short, according to MarketWatch. That could trigger a abbreviated squeeze, pushing the banal sharply higher successful a abbreviated period. On the different hand, question and tourism stocks could beryllium deed hard by an economical downturn oregon planetary unrest.

Investors who whitethorn privation to instrumentality a much passive attack should apt debar this name. There are catalysts for much volatility up for Avis Budget Group.

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