Hertz Share Sale Over?

It is widely known that Hertz has been having a tough time, making it the number one hot stock for small investors, since its bankruptcy filing on May 22. The company had earlier this week shared the news that they would proceed to sell $500 million shares.  

The stock was halted at $1.94 a share after Jay Clayton - chairman of the Securities and Exchange Commission made it clear on national television that the reputable entity in concerned about the company’s plan to raise money by selling potentially worthless stock.

“In most cases when you let a company know that the SEC has comments on their disclosure they do not go forward until those comments are resolved,” Clayton said.

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