Avis Sinks 70% in Two Days, Setting Off Cascade of Trading Halts

Avis Budget Group’s stock collapsed 70% over two days, erasing a prior rally after a 52% single-day plunge on Thursday triggered repeated trading halts. The abrupt reversal follows an unsustainable surge, with shares now nearing pre-rally levels as investors dumped positions en masse amid volatility. Trading was halted multiple times Thursday under exchange rules designed to curb extreme price swings, exacerbating market uncertainty. No immediate catalyst was confirmed, but analysts cite speculative trading, profit-taking, and potential margin calls as likely drivers of the selloff. The crash underscores risks in meme-stock volatility, echoing past episodes like GameStop and AMC, where rapid gains were followed by steep corrections.