Why is Sixt SE (ETR: SIX2) stock price up today? – Idaho Reporter

Eurozone

Why is Sixt SE (ETR: SIX2) stock price up today?

Sixt investors are happy about Hertz bankruptcy. The corona crisis and an oppressive debt burden have forced the US car rental company Hertz into bankruptcy. The decline in travel has led to a “sudden and dramatic” drop in sales and bookings, the company said over the weekend. Operations will continue during the realignment during the crisis. The international business of the car rental company in Europe, Australia or New Zealand is not affected by the bankruptcy application – just like franchise partners.

After competitor Hertz’s bankruptcy in the USA, Munich’s competitor Sixt stock price jump up to four percent on Monday morning. The loss of a competitor is a positive announcement in these particularly difficult times for car rental companies, although Hertz will continue to do business in the USA and Europe for the time being despite the bankruptcy. Metzler analyst Stephan Bauer sees light at the end of the tunnel for the car rental company. He justifies this with easier travel for numerous European countries and a return to freedom of travel expected in mid-June.

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