Bill Ackman's firm buys big stake in Hertz, pushing stock up, sees $30/share value by 2029.

Bill Ackman's investment firm, Pershing Square, has acquired a nearly 20% stake in Hertz, causing the company's stock to surge. Ackman sees potential for Hertz to benefit from increased used car values and improved fleet management, projecting a $30 per share valuation by 2029. Hertz CEO Gil West welcomed the investment, citing it as a sign of the company's progress post-bankruptcy and through ongoing challenges, including electric vehicle investments.