Market Chatter: Avis Budget Group Shares Erase Short-Squeeze Rally

02:06 PM EDT, 10/19/2026 (MT Newswires) -- Avis Budget Group (CAR) shares have fallen sharply, erasing the gains from a short squeeze that briefly pushed the stock above $700, Bloomberg reported Monday. The rally began in March when investor Pentwater Capital Management increased its stake in Avis, the report added. Shares dropped as much as 3.5% earlier Monday to $99.20, as the rental car industry faces weaker demand and rising costs, the report said. The company's stock was down 2.3% in the recent session. Avis Budget Group didn't immediately reply to MT Newswires' request for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.) Price: 100.46, Change: -2.37, Percent Change: -2.30