Finally, shares of Hertz Global Holdings lost 7%. Those following the stock attributed the loss to an announcement from car-sharing platform specialist Turo that it would bring on independent car rental companies to offer vehicles to customers. If Turo gains traction, then the move could threaten Hertz's margins by making it easier for smaller rental car operators to compete in key markets. Hertz has made its own moves in the car-sharing arena , but investors are clearly worried that it won't be able to establish any type of competitive moat in the fast-moving space, and that could eat into its market share over the long run.
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