<story><title>Hertz, the original meme stock, is turning out to be worthless</title><url>https://www.bloomberg.com/news/articles/2021-03-02/hertz-the-original-meme-stock-is-turning-out-to-be-worthless</url></story><parent_chain></parent_chain><comment><author>brandmeyer</author><text>Hol&amp;#x27; up.&lt;p&gt;While in bankruptcy, some fools ran up the price of Hertz stock.  Then, while the price was up &lt;i&gt;in the middle of bankruptcy proceedings&lt;/i&gt;, Hertz sold some new shares to the same fools.  The final result of the bankruptcy wiped out all of the shareholders.&lt;p&gt;While the buyers were obviously fools, Hertz should have known that zero shareholder value was a likely outcome.  How was selling more stock in that situation legal?  I see that the sale was quickly shut down... but it shouldn&amp;#x27;t have happened in the first place.</text></comment>
<story><title>Hertz, the original meme stock, is turning out to be worthless</title><url>https://www.bloomberg.com/news/articles/2021-03-02/hertz-the-original-meme-stock-is-turning-out-to-be-worthless</url></story><parent_chain></parent_chain><comment><author>throwaway5752</author><text>It&amp;#x27;s not worth discussing BTC, TSLA, GME, or HTZ. That is missing the forest for the trees.&lt;p&gt;The degradation of even the appearance of an orderly market is the story. The money movement (volume of excess trades X magnitude of price change) seems out of reach of unleveraged retail. Faith in private and public institutions is justifiably poor, but also under organized attack.&lt;p&gt;This is going to end badly for everyone, except perhaps for China.</text></comment>