Damien Roscoe told The Wall Street Journal he invested in the car rental company even though he knew the company was bankrupt. "I know it sounds crazy."
Retail investors who bought Hertz last summer when even the company itself said its shares were "worthless" are now proving correct.
According to The Wall Street Journal, the winning bid will pay current shareholders close to $8 a share. Corporate bankruptcies rarely result in a payout for equity investors.