Avis Stock Tumbles After Earnings. The Short Squeeze Is Over

Dow Jones04-29

Shares of Avis Budget Group fell sharply Wednesday after the car-rental company reported deeper losses than expected in the first quarter and continued to deal with the aftermath of its bizarre short squeeze.

The company posted a loss of $8.01 a share for the quarter. That marked an improvement on its loss of $14.35 a share a year ago, but fell below the $7.29 loss analysts had expected, according to FactSet. Revenue totaled $2.5 billion, ahead of Wall Street's call for $2.4 billion.

Avis stock tumbled 16% to $151.83 in premarket trading. It was on track to extend its losing streak to six consecutive sessions.

While the earnings miss likely doesn't help, the stock's downward trajectory is more about coming down from the sugar-high it experienced earlier this month.

Shares skyrocketed beginning in late March amid an apparent short squeeze, rising to a record closing high of $713.97 on April 21. But that move, as Barron's reported, was all about a technical mismatch between supply and demand. The stock has plummeted 75% in the week since.

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The Short Squeeze Is Over\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-04-29 19:39</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Shares of Avis Budget Group fell sharply Wednesday after the car-rental company reported deeper losses than expected in the first quarter and continued to deal with the aftermath of its bizarre short squeeze.</p><p>The company posted a loss of $8.01 a share for the quarter. That marked an improvement on its loss of $14.35 a share a year ago, but fell below the $7.29 loss analysts had expected, according to FactSet. Revenue totaled $2.5 billion, ahead of Wall Street&#39;s call for $2.4 billion.</p><p>Avis stock tumbled 16% to $151.83 in premarket trading. 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