The_AT0 rental_NN1 car_NN1 company_NN1 ,_PUN which_DTQ filed_VVD for_PRP bankruptcy_NN1 early_AJ0 in_PRP the_AT0 pandemic_AJ0 and_CJC emerged_VVD on_PRP June_NP0 30_CRD ,_PUN has_VHZ filed_VVN paperwork_NN1 with_PRP the_AT0 Securities_NN2 and_CJC Exchange_NN1 Commission_NN1 for_PRP an_AT0 initial_AJ0 public_AJ0 offering_NN1 ._SENT The_AT0 company_NN1 signaled_VVD its_DPS plans_NN2 for_PRP the_AT0 IPO_NN1 in_PRP August_NP0 when_CJS it_PNP reported_VVD second_ORD quarter_NN1 financial_AJ0 results_NN2 ,_PUN including_PRP revenue_NN1 that_CJT was_VBD nearly_AV0 back_AVP to_PRP pre-pandemic_AJ0 levels_NN2 and_CJC an_AT0 operating_NN1 profit_NN1 stronger_AJC than_CJS before_PRP the_AT0 pandemic_AJ0 ._SENT It_PNP also_AV0 had_VHD a_AT0 net_AJ0 loss_NN1 of_PRF $_NN0 168_CRD million_CRD brought_VVN about_PRP by_PRP $_NN0 633_CRD million_CRD of_PRF reorganization_NN1 expenses_NN2 ._SENT The_AT0 company_NN1 is_VBZ benefiting_VVG from_PRP a_AT0 shortage_NN1 of_PRF rental_NN1 cars_NN2 that_DT0 is_VBZ boosting_VVG rates_NN2 incredibly_AV0 high_AJ0 by_PRP historical_AJ0 standards_NN2 ._SENT When_CJS the_AT0 pandemic_AJ0 brought_VVN air_NN1 travel_NN1 to_PRP a_AT0 near_AJ0 halt_NN1 ,_PUN rental_NN1 car_NN1 companies_NN2 had_VHD far_AV0 more_DT0 cars_NN2 on_PRP hand_NN1 than_CJS they_PNP needed_VVD ,_PUN so_AV0 much_AV0 so_AV0 that_CJT they_PNP were_VBD forced_VVN to_TO0 rent_VVI space_NN1 in_PRP the_AT0 parking_NN1 lots_PNI of_PRF deserted_AJ0 sports_NN2 stadiums_NN2 to_TO0 park_VVI their_DPS fleets_NN2 ._SENT With_PRP so_AV0 few_DT0 people_NN0 traveling_VVG ,_PUN the_AT0 companies_NN2 sold_VVD cars_NN2 into_PRP the_AT0 used_AJ0 car_NN1 market_NN1 to_TO0 raise_VVI the_AT0 cash_NN1 they_PNP needed_VVD to_TO0 survive_VVI ._SENT Once_AV0 demand_VVB for_PRP travel_NN1 began_VVD to_TO0 return_VVI ,_PUN automakers_NN2 suddenly_AV0 were_VBD hit_VVN by_PRP the_AT0 computer_NN1 chip_NN1 shortage_NN1 ,_PUN which_DTQ limited_VVD the_AT0 number_NN1 of_PRF new_AJ0 cars_NN2 they_PNP could_VM0 make_VVI ._SENT Rental_NN1 car_NN1 companies_NN2 were_VBD unable_AJ0 to_TO0 replenish_VVI their_DPS fleets_NN2 --_NN1 a_AT0 supply_NN1 chain_NN1 nightmare_NN1 that_CJT sent_VVD rental_NN1 rates_NN2 soaring_VVG to_TO0 record_VVI levels_NN2 ._SENT Rental_NN1 car_NN1 rates_NN2 have_VHB retreated_VVN 15_CRD %_NN0 from_PRP the_AT0 record_NN1 high_AV0 they_PNP hit_VVD in_PRP June_NP0 ,_PUN according_VVG to_PRP the_AT0 US_NP0 consumer_NN1 price_NN1 index_NN1 ,_PUN the_AT0 nation_NN1 's_POS key_AJ0 measure_NN1 of_PRF inflation_NN1 ._SENT But_CJC the_AT0 rates_NN2 were_VBD still_AV0 51_CRD %_NN0 higher_AJC in_PRP September_NP0 than_CJS in_PRP September_NP0 2019_CRD ,_PUN before_PRP the_AT0 pandemic_AJ0 ,_PUN according_VVG to_PRP CPI_NN0 ._SENT Few_DT0 products_NN2 or_CJC services_NN2 are_VBB still_AV0 that_DT0 much_DT0 above_PRP pre-pandemic_AJ0 levels_NN2 ._SENT Hertz_NN0 's_POS previous_AJ0 shareholders_NN2 were_VBD pretty_AV0 well_AV0 wiped_VVN out_AVP by_PRP the_AT0 bankruptcy_NN1 ._SENT Financier_NN1 Carl_NP0 Icahn_NP0 ,_PUN its_DPS largest_AJS shareholder_NN1 ,_PUN lost_VVN about_PRP $_NN0 2_CRD billion_CRD on_PRP his_DPS investment_NN1 when_CJS he_PNP sold_VVD his_DPS stock_NN1 soon_AV0 after_PRP the_AT0 bankruptcy_NN1 filing_NN1 ._SENT In_PRP short_AJ0 order_NN1 ,_PUN however_AV0 ,_PUN Hertz_NN0 became_VVD hot_AJ0 with_PRP many_DT0 retail_AJ0 investors_NN2 ,_PUN making_VVG it_PNP an_AT0 early_AJ0 meme_NN1 stock_NN1 ,_PUN a_AT0 GameStop_NN1 (_PUL GME_NP0 )_PUR before_PRP shares_NN2 of_PRF video_NN1 game_NN1 retailer_NN1 GameStop_NP0 enjoyed_VVD its_DPS own_DT0 roller_NN1 coaster_NN1 ride_NN1 ._SENT That_DT0 rise_NN1 in_PRP Hertz_NN0 's_POS shares_NN2 prompted_VVD the_AT0 company_NN1 to_TO0 propose_VVI selling_VVG additional_AJ0 shares_NN2 to_TO0 raise_VVI cash_NN1 as_CJS it_PNP struggled_VVD to_TO0 ride_VVI out_AVP the_AT0 downturn_NN1 and_CJC fund_VVB its_DPS operations_NN2 during_PRP the_AT0 pandemic_AJ0 ._SENT Those_DT0 plans_NN2 were_VBD scrapped_VVN when_CJS the_AT0 Securities_NN2 and_CJC Exchange_NN1 Commission_NN1 objected_VVD ,_PUN citing_VVG the_AT0 likelihood_NN1 that_CJT shareholders_NN2 would_VM0 be_VBI left_VVN with_PRP valueless_AJ0 stock_NN1 at_PRP the_AT0 conclusion_NN1 of_PRF the_AT0 bankruptcy_NN1 process_NN1 ._SENT 
