Avis Budget shares jump 600% in a month despite $25-billion debt

Car-rental company Avis Budget's shares surged around 600% in a month, hitting a record high of $765.94 on Tuesday. This comes despite Avis posting a net loss of $856 million ​for December quarter and reportedly having over $25 billion in debt. Notably, hedge funds SRS Investment Management and Pentwater Capital ​Management together hold over 71% of the company's total shares.