With the purchase, Pershing's stake in Hertz makes it the second-largest shareholder in the company. The investment sent the car rental company’s shares soaring 44.3 percent on Thursday, with the ...

So it wasn't a surprise to see Hertz Global (NASDAQ: HTZ) stock skyrocket after Ackman's fund disclosed a stake in the car rental business. Hertz shares jumped 126% in a two-day span as of trading ...

Ackman’s Pershing Square Capital bought $46 million in Hertz shares. The stock has now nearly doubled in two days.