Buy Hertz Stock. It’s Cheap, Well-Run, and Renting Teslas.

A revitalized Hertz is set to put investors in “the driver’s seat,” to borrow a phrase from its 1960s ad campaign.

This isn’t the Hertz of old, however. Before 2020—and its bankruptcy filing—the company was known as the industry’s bad actor for the periodic price wars it would launch, contributing to the boom-and-bust nature of the business. Now, car rentals are dominated by three financially disciplined companies— Hertz Global Holdings (ticker: HTZ), Avis Budget Group (CAR), and the private Enterprise Rent-a-Car—that control 90% of the U.S. market, resulting in a more stable and better managed industry than ever before.