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2 Car Rental Stocks To Watch In July

Are These 2 Top Car Rental Stocks On Your Watchlist For July?

The crash of the stock market from February to March was not friendly to rental car stocks. Most people rent cars while traveling, and travel has been a dead industry. People are scared of getting the virus during the current outbreak. This means that traveling is at an all-time low. This also means rental car sales are at an all-time low as well. People are barely leaving their homes let alone going places. The risk of catching the virus is too high with millions of cases around the world.

When reopening news comes out, top rental car stocks tend to trend upwards. Customers will return to rental car companies once traveling becomes mainstream again. The return of traveling could cause the recovery of rental car stocks. The future is still uncertain but it can be expected for rental car stocks to go up once travel is back.

Back in February and March when the market crashed, rental car stocks were among the most hit. Some rental car stocks dropped to new lows for the companies. As businesses have continued reopening it has brought us closer to traveling once again. The issue is fears of a second virus wave. So it is clear that rental stocks are in a volatile place. This does not mean that rental car stocks can’t rise though. Let’s look at two rental car stocks that have managed to grow in the market despite dark economic times.

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Top Car Rental Stocks To Buy [Or Sell] In July: Avis Budget Group

The first rental car stock, Avis Budget Group Inc. (CAR Stock Report) is an American rental car company. It was founded in 2006 and is one of the largest rental car companies in the United States. Avis was the first rental car business to be located directly at an airport. This started a trend for the rest of the rental car companies. It purchased a car-sharing company Zipcar in 2013 for $491 million. Avis is in fact the leading general use vehicle rental company in multiple places. This includes North America, Australia, and New Zealand.

Shares of CAR stock fell hard like the rest of rental car stocks in February and March. In February CAR stock price was at $50 a share on average. Then CAR stock fell as low as $7 a share in March. Since then, CAR stock price has gone up to $25 a share as of July 3rd. This could mean that CAR stock is on its way back up. It is still half of the price it once was but CAR stock price has been on the rise. If the travel world begins to make a comeback it is possible for CAR stock to as well.

From July 1st to July 2nd there was a 27% increase in CAR stock price. This is due to used car sales rising up. Since Avis also sells used cars, this is good news for them. Consumers have still been purchasing cars during the pandemic. So it is possible for CAR stock to rise even higher in the future.

[Read More] 2 Automotive Stocks To Watch In 2020: Ford Vs. Ferrari

Top Car Rental Stocks To Buy [Or Sell] In July: HyreCar

The next rental car stock to watch is HyreCar Inc. (HYRE Stock Report) which could be on the road to recovery. HyreCar rents out cars to people who drive for Uber (UBER Stock Report) or Lyft (LYFT Stock Report). The company was founded in 2014 and is based in Los Angeles. As a relatively new company, it seems to be doing alright in the market.

Before the market crashed shares of HYRE stock were at $3.95 a share. Once it crashed HYRE stock price fell as low as $0.94 a share. This 76% decrease was bad for HYRE stock. But since then, HYRE stock price has rose back up to $2.98 a share on average as of July 3rd. This means that HYRE stock could be on the road to recovery. If it can continue offering its services to more people HYRE stock price will go up.

Bottom Line

It is clear that there is potential for some rental car stocks. HYRE stock and CAR stock are seeing what could end up being recovery. This makes these companies two potential rental car stocks to buy. As travel opens up more it is possible for these rental car stocks to go higher, or even reach new heights.

By Josh Dylan

Josh Dylan is an active contributor to His forte is in geosocial events and emerging trends in the stock market today. As an active contributor to other financial outlets like, his ability to study current events and determine the potential market reaction is what sets him apart from other writers.

After studying at UC Santa Cruz and earning a bachelor's of art and art history, Josh also went on to start his own business in art resale. Identifying underserved niches like this has allowed him to think outside the box when it comes to applying this approach to the stock market.

His new-age take on social media and branding gave Josh the foresight to apply certain lifestyle trends to market moving topics. This has included the recent trend in the cannabis industry and marijuana stocks as well as following emerging technology such as artificial learning and web-bots. Fundamentals are just as important as momentum in Josh’s opinion. Being able to understand how to apply popular trends to investing is of major importance. If the price of oil is sinking but the price of gold is following along, we want to understand why, not just follow the broader trend.

Josh Dylan makes it a point to not only mention what hot “today” but also find ways to apply that to find future opportunity in the stock market. What’s more is that Josh has become an active part in the social media team. He works to delivery top research not only one but also bring it to the readers, directly.

By studying the macro-economic events in the market, Josh makes sure to find events that could shift micro-economic trends. He prides himself on taking a unique approach to information but not taking things for “face value”. When it comes to the stock market, things can change at a moment’s notice and Josh makes sure to stay ahead of that with sound research and diligence. When Josh isn’t writing about the stock market, he enjoys spending time with his family and surfing. He currently calls Southern California his home.

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