The following video is from Wednesday's MarketFoolery podcast in which host Chris Hill, along with analysts Charly Travers and Joe Magyer, discuss the top business and investing stories.
While so many stocks got a big bump from the fiscal cliff being averted, Zipcar (UNKNOWN:UNKNOWN) popped up big today for a different reason: the announcement that Avis (NASDAQ:CAR) would be buying the company to complement its own rental car business. In this segment, the guys discuss why this may have come as a surprise to many, why Avis shares are actually up significantly today as well despite that the buyer often takes a hit on the day acquisitions are announced, and what this might mean for other car rental companies, like Hertz (NYSE:HTZ).
Charly Travers owns shares of Zipcar. Chris Hill has no positions in the stocks mentioned above. Joe Magyer has no positions in the stocks mentioned above. The Motley Fool owns shares of Hertz Global Holdings and Zipcar. Motley Fool newsletter services recommend Zipcar. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.