While making no specific announcement about EVs, Ferraro said on a conference call Tuesday that “you’ll see us going forward be much more active in the electric scenarios as the situation develops over time.”
And CEO Joe Ferraro also may have drawn investors’ interest with a reference about adding electric vehicles to its fleet. The gains may have been amplified due to some investors buying in order to cover bets that the shares would fall. They were trading around $35 at the beginning of the year. Shares in Avis Budget Group closed up $185.71, to an all-time high of $357.17 on massive volume. Its third-quarter profit easily beat Wall Street expectations and its sales rose above pre-pandemic levels. (AP) - Shares of Avis doubled on Tuesday after the rental car company’s third-quarter results showed it is well on the road to recovery from the damage inflicted by the pandemic on the global travel industry.
