This situation with Avis Budget is absolutely comic. Old-timers like me remember stuff like PALM from back in the late 1990s. It’s precisely the kind of batshit lunacy one witnesses in the final throes off an overvalued bubble. If you didn’t laugh, you’d cry………..here’s what CAR is up to lately:
I was curious what the likes of Grok might have to say to explain such a phenomenon.
Oh. Oil prices. Yeah, that’s got to be it. Oil prices doubling would absolutely explain why CAR is up 500% in a matter of days.
Jesus Christ, man.
CAR seems to have a knack for this kind of silliness once in a blue moon. Back in 2008, when the market was becoming UNDER-valued, CAR was pulling the same stunt by falling into the land of penny stocks.
Indeed, looking at the history of what really should be The World’s Most Boring Stock, you can see that there are these absolutely insane moves that occur on an eerily regular basis.
A knock-off effect is this craziness is that the Dow Transportation Index, regarded long ago as a sober measure of economic prospects, has likewise been going berserk. Because I’m certain that wildly higher fuel prices will be an absolute bonanza for an industry whose most substantial cost is energy.
One day we’ll all look back on this and laugh.
But I’m not laughing just yet.
