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March 18, 2020, 12:31 p.m. EDT

Avis's stock plummets toward worst day in 22 years

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By Tomi Kilgore

Shares of Avis Budget Group Inc. /zigman2/quotes/203618115/composite CAR +13.70% took a 40% dive toward an 11-year low in midday trading Wednesday, as they led the Dow Jones Transportation Average's /zigman2/quotes/210598063/realtime DJT -0.04% losers by a wide margin. The rental car company's stock was headed for the biggest one day selloff in 22 years, behind only the record 46.5% plunge on April 16, 1998. The next biggest Dow transports decliners were shares of United Airlines HOldings Inc. /zigman2/quotes/205037281/composite UAL +5.06% , which shed 29%, and Delta Air Lines Inc. /zigman2/quotes/200327741/composite DAL +3.81% , which lost 27%. Avis's stock has now lost more than three-quarters of its value (down 77%) so far this month, which would be its worst-ever monthly performance, as recession fears mounted in the face of the COVID-19 pandemic.

/zigman2/quotes/203618115/composite
US : U.S.: Nasdaq
$ 24.48
+2.95 +13.70%
Volume: 8.84M
June 1, 2020 4:00p
P/E Ratio
8.03
Dividend Yield
N/A
Market Cap
$1.50 billion
Rev. per Employee
$304,133
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/zigman2/quotes/210598063/realtime
US : Dow Jones Indices
8,965.91
-3.88 -0.04%
Volume: 220.61M
June 1, 2020 5:27p
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/zigman2/quotes/205037281/composite
US : U.S.: Nasdaq
$ 29.46
+1.42 +5.06%
Volume: 57.50M
June 1, 2020 4:00p
P/E Ratio
7.99
Dividend Yield
N/A
Market Cap
$8.14 billion
Rev. per Employee
$448,946
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/zigman2/quotes/200327741/composite
US : U.S.: NYSE
$ 26.17
+0.96 +3.81%
Volume: 46.61M
June 1, 2020 4:00p
P/E Ratio
4.86
Dividend Yield
0.00%
Market Cap
$16.08 billion
Rev. per Employee
$499,337
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