During the pandemic, Hertz (HTZ) was understandably down in the dumps.
If people couldn’t go outside, how would they rent a car?
No one could have predicted it would happen and HTZ was not ready for such a disaster.
And the stock fell.
And fell.
It looked like it might go to zero and “fair value” was far above the current price back October 2020.
At that point HTZ was at $1.09 and the 800 SMA was way up at $14.
Here’s the chart:
That’s what we call deep, deep value.
Did it go to zero?
No.
Did it get back to “fair value”?
Yes indeed.
It eventually gapped up past $14 and ran all the way to around $36.
Deep, deep value turned into a monster winner.
Do all stocks that low do such things?
No.
But when they do come back from the dead, it can be spectacular.
Happy trading,
— Scott Welsh
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