New York Stock Exchange (NYSE), owned by Intercontinental Exchange (New York Stock Exchange: ICE)Announced that the staff of the New York Stock Exchange regulator has suspended trading Hertz Global Holdings (New York Stock Exchange: HTZ). The New York Stock Exchange will now file a delisting application with the Securities and Exchange Commission.
Delisting is widely regarded as an unfavorable development, and this is indeed the case in Hertz. In fact, investors may think that this kind of delisting should have happened long ago because traders have participated in speculation on Hertz stock in the past few months, and in some cases, the stock price has risen sharply. Although the possibility of Hertz sharing the stock in this form is great, he ultimately made a worthless guess.
If you ask yourself why the holder’s debt financing of $1.65 billion was approved recently, but why Hertz was delisted, it is because the funds will never contribute to the rebound of the bankrupt company. Instead, it will only enable Hertz to continue to operate as an “important” business when bankruptcy negotiations are completed. Although many things are currently unresolved, the possible outcome of this process is that Hertz will appear in the form of restructuring stocks and trade in different stocks, and the current stocks will ultimately have little or no value to ordinary shareholders.
For traders who still own Hertz, the number of stocks they own will not directly change, but it will become more difficult to research, buy or sell stocks because they are no longer listed on the NYSE and can be traded. counter.