
In the nearly four months since the Covid-19 outbreak reached the United States the market has experienced an historic crash and equally historic recovery. Last week the S&P 500 closed within 5% of it’s pre-Covid-19 high and the NASDAQ reached a new all time high. The market’s bounce has largely been driven by big tech, including stocks included in the Cornell Capital Group Quarantine Index which has dramatically outperformed the market. While tech has outperformed, companies in the travel sector, many of which are included in the CCG Anti Quarantine Index, have largely missed out on much of the market recovery. One member of the CCG Anti Quarantine Index, Hertz Car Rental, has filed for bankruptcy. Typically, bankruptcy is the end of the line for equity investors but for Hertz Global Holdings Inc (NYSE:HTZ) bankruptcy was the beginning of new chapter in the Hertz story.
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