Hertz shares have gone on a wild, volatile ride in 2022 and are currently down 32%. And now Hertz’s earnings outlook is trending in the wrong direction.

The stock market continued its post FOMC rate hike climb in the run-up to today's mid-terms. Perhaps fueled by the prospect of a Powell pivot post election, the Dow soared on Monday.

Even rental car companies are being forced to carry the electric vehicle narrative, with Hertz now committing to purchasing 175,000 EVs from General Motors over the course of five years, a new report by WSJ noted this week.

Avis Budget Group, Inc. and Hertz Global Holdings, Inc. are two prominent rental and leasing services companies.

The stock's first trade on the Nasdaq was at $26.25 for 2.82 million shares.