Avis Budget stock surges to another record, has nearly doubled over the past three months

Shares of Avis Budget Group Inc. CAR, +8.64% changeable up 7.3% successful greeting trading Friday, putting them connected way for an eighth grounds adjacent successful the past month, and capable to gait the Dow Jones Transportation Average's DJT, +0.68% gainers. The car rental company's banal has been by acold the champion performer among the Dow transports components implicit the past 3 months (up 92.4%), twelvemonth to day (up 263.8%) and for the past twelvemonth (up 335.3%), portion the Dow transports has gained 0.9%, 16.8% and 24.2% implicit the aforesaid periods, respectively, and the Dow Jones Industrial Average DJIA, +0.05% has gained 1.0%, 13.6% and 22.3%. On a agleam enactment for Avis, the government's September employment report retired earlier Friday showed "notable occupation gains" successful the leisure and hospitality and proscription sectors. And expert Michael Linenberg astatine Deutsche Bank said aft a caller pullback, firm hose bookings are "once again connected the upswing" and are present approaching levels past seen successful aboriginal July earlier the astir caller surge successful COVID-19 cases. Growth recreational and concern question tin beryllium a bully motion for car rental companies.