Hertz shares surge more than 50% after Bill Ackman takes big stake in the rental car firm

Bill Ackman, Pershing Square Capital Management CEO, speaking at the Delivering Alpha conference in NYC on Sept. 28th, 2023.Shares of Hertz surged 56% on Wednesday after a regulatory filing revealed Pershing Square had built a 4.1% position as of the end of 2024. Pershing has significantly increased the position — to 19.8% — through shares and swaps, becoming Hertz' second largest shareholder, a person familiar with the matter told CNBC's Scott Wapner.Bill Ackman's Pershing Square took a sizable stake in He ...