Avis

Breakout for Avis Budget Group in the Charts?

Avis Budget Group Inc (CAR) has been soaring this year, but it has recently met resistance. If the stock breaks through this resistance line, it could be headed for a breakout. Read more to learn how to profit from this trade.

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This story originally appeared on StockNews

Avis Budget Group Inc (CAR) has been soaring this year, but it has recently met resistance. If the stock breaks through this resistance line, it could be headed for a breakout. Read more to learn how to profit from this trade.

Avis Budget Group Inc (CAR) is a provider of automotive vehicle rental and car-sharing services. The company’s brands include Avis, Budget, and Zipcar. Avis targets the premium commercial and leisure segments of

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(SAII), Avis Budget Group, Inc. (NASDAQ:CAR) – Could Otonomo Be The Best SPAC Deal Of 2021? The Bear Cave Thinks So

Israel-based car data management company Otonomo is going public in a SPAC deal valuing the company at $1.4 billion. The Bear Cave, which normally tries to point out bad companies, shared three key reasons why Otonomo could be the best SPAC for 2021 despite low media exposure.

Large Opportunity: Research firm The Bear Cave believes the opportunity for connected car data is huge and still in the beginning stages. It says Otonomo, going public with Software Acquisition Group II (NASDAQ: SAII), has a large opportunity in the market.

“One opportunity is usage-based car insurance,” the research firm said. This could lead to consumers sharing their data and getting better rates from insurance companies.

Fleet management is mentioned as another area of opportunity within the connected car data market. Avis Budget (NASDAQ: CAR) is mentioned as both a customer of Otonomo and an investor.

Banks could offer more competitive

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What’s Driving Avis Budget Group Higher Friday?

What happened

Shares of Avis Budget Group (NASDAQ:CAR), a global provider of mobility solutions and rental vehicles through its Avis and Budget brands, were trading 8% higher as of 1:32 p.m. EST Friday.

So what

One possible news item that could have been motivating investors to bid the shares up was Morgan Stanley analyst Billy Kovanis’ recent upgrade of Avis Budget.

Kovanis kept an overweight rating on the stock, which is an optimistic view of its potential, and lifted his price target from $44 to $56. That move was based on his prediction that travel will inevitably rebound and that Avis will benefit more from that than the market is currently giving it credit for.

After reaching what was by far their worst peak of the pandemic last month, new COVID-19 diagnoses in the U.S. have been heading downward steadily in recent weeks. The number of new

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