“It’s one thing for speculators to speculate before the existing Hertz shares get delisted, which the New York Stock Exchange has ordered … It’s quite another for the debtor—Hertz—to take advantage of its own badly misinformed shareholders by attempting to sell them new equity, knowing for sure that stockholders will get wiped out after a plan of reorganization is agreed to, leaving them with nary a sou. It’s easily one of the more cynical financial ploys to come along in a season filled with cynical financial ploys. (And Hertz even admits in its prospectus that the investors in the offering could get wiped out in the bankruptcy.)” Vanity Fair: ‘This Is Just F–king Unbelievable!: Bankrupt Hertz Is a Pandemic Zombie.