Avis Stock Price Collapse

The stock had previously climbed about 600% since late March before reversing sharply this week as investors worried about a potential equity offering.

The gauge of Dow transportation stocks is now heading for its worst two-day stretch since last spring's tariff selloff.

Analysts suggest the meme-stock craze surrounding Avis has finally met a new reality as the company's fundamentals come under scrutiny.

Hertz Global has also seen its shares slide further as the crowded short trade drama unfolds across the car rental sector.