Opinions
Jim Cramer - Mad Money
Avis Budget Group
CAR-Q
COMMENT
Nov 03, 2021
Is up 72% this week so far, largely due to the meme trade who slammed the short-sellers. CAR just reported a super quarter, too.
$298.090
Stock price when the opinion was issued
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COMMENT
Avis bought out Avis Europe at the beginning of the 4th quarter and basically took a write off. Has recovered very strongly from the great recession. There is a little bit of growth in the number of cars being rented. 1st and 4th quarters are their worst quarters but they make money in the summer. Margins are being squeezed by competition and people unwilling to pay.
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BUY ON WEAKNESS
All the rental car companies are extremely volatile. They tend to be small. A lot of the spending that goes there is very cyclical. No one has to rent a car. They are also up against Uber. However, the companies are cheap and just crying out for consolidation. On pullbacks, he would add to positions.
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