Avis Budget Group Plummets As Fugazi Research Alleges Manufactured Short Squeeze

Shares of Avis Budget Group Inc (NASDAQ:CAR) are trading sharply lower Thursday morning after a scathing report by Fugazi Research alleged the stock's massive valuation was artificially inflated by a “prisoners' dilemma” between two major hedge funds. Benzinga has reached out to Avis Budget Group for comment regarding the allegations.