Car rental firm Hertz rises after Ackman's Pershing Square builds stake

** Shares of car rental firm Hertz HTZ.O jump 21.9% to $4.45 premarket

** Activist investor Bill Ackman's hedge fund, Pershing Square Capital Management, has a 12.7 million share stake in HTZ, as of December 31, 2024, according to an SEC filing

** Reuters reported last week that Pershing Square Holdings' portfolio has lost nearly 14% through April 8

** The losses reflect sharp global declines as investors reacted to the Trump administration's plans to impose heavy tariffs on nearly all trading partners

** Six out of 10 brokerages rate the Hertz stock at "hold", 4 rate "sell" and their median PT is $3 as per LSEG data

** As of last close, HTZ stock down 0.3% YTD