Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Hertz Global Holdings, Inc. has delivered one of Wall Street’s most dramatic turnaround stories of 2026, but the latest twist has made the recovery considerably harder to judge.</li><li>After plunging roughly 70% from late June and touching an all-time low of $1.51 on August 4, Hertz shares surged 85% over just six sessions as second-quarter results came in better than investors feared.</li><li>Then came the shock: Bill Ackman’s Pershing Square disclosed that it had exited its position after becoming uncomfortable with management’s financing decisions, sending the stock sharply lower.</li></ul>

Hertz Global Holdings, Inc. has delivered one of Wall Street’s most dramatic turnaround stories of 2026, but the latest twist has made the recovery considerably harder to judge.After plunging roughly 70% from late June and touching an all-time low of $1.51 on August 4, Hertz shares surged 85% over just six sessions as second-quarter results came in better than investors feared.Then came the shock: Bill Ackman’s Pershing Square disclosed that it had exited its position after becoming uncomfortable with management’s financing decisions, sending the stock sharply lower.

Hertz Soared 85%—Then Bill Ackman Pulled The Plug!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Hertz is navigating a significant operational and financial turnaround following a costly and abandoned electric vehicle (EV) strategy, which led to substantial losses in 2024 and 2025.</li>
  <li>Under new leadership since April 2024, the company is focused on a "Back-to-Basics"strategy, emphasizing disciplined fleet management of internal combustion engine (ICE) vehicles, optimizing revenue per unit, and rigorous cost control.</li>
  <li>While recent quarterly results show signs of commercial momentum with revenue growth and improved pricing, the company remains burdened by a heavy debt load and faces significant execution risk in a competitive market with high sensitivity to economic cycles and used car values.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Hertz is navigating a significant operational and financial turnaround following a costly and abandoned electric vehicle (EV) strategy, which led to substantial losses in 2024 and 2025.
  Under new leadership since April 2024, the company is focused on a "Back-to-Basics"strategy, emphasizing disciplined fleet management of internal combustion engine (ICE) vehicles, optimizing revenue per unit, and rigorous cost control.
  While recent quarterly results show signs of commercial momentum with revenue growth and improved pricing, the company remains burdened by a heavy debt load and faces significant execution risk in a competitive market with high sensitivity to economic cycles and used car values.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Hertz Global Holdings (HTZ US) - Aug 2026

<ul><li>Hertz Global Holdings has recently attracted attention as airport disruption, TSA staffing strain, and broader travel friction pushed more consumers toward rental cars.</li><li>On the surface, that made the company look like a clean beneficiary of chaos: website searches climbed, one-way and last-minute offers gained traction, and road-trip demand picked up as stranded travelers searched for alternatives.</li><li>But the more revealing interpretation is that Hertz did not create a fresh demand cycle; it absorbed demand that was displaced from a stressed air-travel system.</li></ul>

Hertz Global Holdings has recently attracted attention as airport disruption, TSA staffing strain, and broader travel friction pushed more consumers toward rental cars.On the surface, that made the company look like a clean beneficiary of chaos: website searches climbed, one-way and last-minute offers gained traction, and road-trip demand picked up as stranded travelers searched for alternatives.But the more revealing interpretation is that Hertz did not create a fresh demand cycle; it absorbed demand that was displaced from a stressed air-travel system.

Hertz’s Surge Isn’t Growth—It’s A Warning Sign!

Market Intelligence, ORTEX

ORTEX Market Intel

Market Intelligence

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ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Cross Asset Strategy

<ul><li>Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold.</li><li>Broad ETF hedges unwound sharply — IJH and CIBR each posted double-digit short interest drops.</li><li>Borrow markets tightened in pockets, with MSFT seeing its sharpest SI spike in months.</li></ul>

Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold.Broad ETF hedges unwound sharply — IJH and CIBR each posted double-digit short interest drops.Borrow markets tightened in pockets, with MSFT seeing its sharpest SI spike in months.

Weekly Digest: Short Sellers Reload Into Cyber, Flee ETF Hedges

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Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

Thematic (Sector/Industry)

<h2>Headline Development</h2><p>Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.</p>

Headline DevelopmentHertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go to Uber (UBER) drivers.  On top of this, Hertz will also invest significantly in EV charging infrastructure across its global operations.

United States

Hertz Global Holdings, Inc. operates as a holding company. The Company, through its subsidiaries, offers renting and leasing of cars from its corporate and franchise locations, as well as maintains separate airport counters, reservations and reservation systems, marketing, and other customer contact activities. Hertz Global Holdings serves clients globally.

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Hertz Global Holdings (HTZ US)

Hertz Soared 85%—Then Bill Ackman Pulled The Plug!

Hertz Global Holdings, Inc. has delivered one of Wall Street’s most dramatic turnaround stories of 2026, but the latest twist has made the...

Baptista Research

Primer: Hertz Global Holdings (HTZ US) - Aug 2026

Hertz is navigating a significant operational and financial turnaround following a costly and abandoned electric vehicle (EV) strategy, which...

αSK Primers

Hertz’s Surge Isn’t Growth—It’s A Warning Sign!

Hertz Global Holdings has recently attracted attention as airport disruption, TSA staffing strain, and broader travel friction pushed more...

Baptista Research

Weekly Digest: Short Sellers Reload Into Cyber, Flee ETF Hedges

Short interest built across cybersecurity names this week, with CRWD leading single-stock moves as analysts cut targets and insiders sold. Broad...

ORTEX Market Intel

Weekly Innovation Review (WIRE) #55

Hertz (HTZZ) just made the largest EV purchase ever, acquiring 100k Teslas (TLSA) for a reported $4.2b - half of which will go...

Granite Bay Capital

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