To the layman, the stock market is often viewed as a casino. While I generally disagree with this premise, the market is made up a diverse set of investors, a subset of whom may hold and act on these views. Unfortunately, these tendencies have become more pronounced in recent times. With the increasing democratisation of investing through zero commission brokerages like Robinhood and people being bored out of their minds thanks to the pandemic, the stock market seems to have become an outlet to satisfy these people’s gambling urges. Certain stocks that fundamentally have no business recovering like the US airline stocks have defied gravity in the past few weeks. One extreme example of this is the illogical price action of Hertz (NYSE: HTZ), the global car rental company that is undergoing Chapter 11 bankruptcy in the US. In today’s article, I’ll run through some background on Hertz, the recent price...