@papa
“The market can stay irrational longer than you can stay solvent”
108% of Avis stock owned by two hedge funds who were squeezing short sellers that bet against the company due to weak underlying fundamentals ($28bn debt, slowing sales)
Nearly 58% of stock was short before they put on the squeeze and bought all outstanding. Now shorts have to sell at inflated prices to get out. Stock up 6x in a few months, finally coming down, well explained here
https://x.com/pivot2centre/status/2046722410422935974?s=46&t=Mzh82nbovTS2hVetWoCw4A
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