18:14 GMT04 December 2020
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    Bankrupt Hertz Shares Soar

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    On today’s episode of Double Down, Max Keiser and Stacy Herbert talk to Mitch Feierstein of PlanetPonzi.com about the stock market euphoria.

    As the more than 100-year-old car rental company, Hertz, files for Chapter 11 bankruptcy, shares in the bankrupt company have unexpectedly soared by over 100%. DOUBLE DOWN talks to Mitch Feierstein of PlanetPonzi.com about the unlikely situation. Shareholders are almost always wiped out completely in bankruptcy so the shares will eventually be worth nothing. But, for now, we are witnessing an extraordinary thing: Warren Buffett sold billions of dollars worth of airline stocks at the bottom. Robinhooders took the other side. They are up 65%. Carl Icahn sold Hertz at the bottom, Robinhooders took the other side of that trade. They are up 100%. Two titans of investing beaten out by ordinary citizens collecting stimulus checks. Tune into DOUBLE DOWN to hear more on what Mitch Feierstein has to say about the market euphoria on central bank money printing.

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