Share prices surge and plunge as Avis seeks to recover trading profits from hedge funds

Stimulated by a sudden increase in holdings by major shareholder Pentwater, which caused an extreme scarcity of circulating shares, the stock first surged more than sixfold within just one month, then plummeted by nearly 80% in the following few trading days, almost wiping out all gains. Adding to the drama, after this roller-coaster price fluctuation, Avis unusually invoked provisions of the U.S. Securities Exchange Act to recover short-term trading profits from hedge funds involved in this short squeeze. (Shanghai Securities News)