Avis Budget CEO Blames Pentwater for Stock Plunge

Avis Budget CEO Brian Choi blames Pentwater Capital Management for selling 4.3 million shares on April 22, sparking a 38% stock drop.
The shares sold at $250‑$700 after closing near a record $714, causing a further 48% decline the next day.
Pentwater, Avis’s second‑largest shareholder, previously fueled a rally that drove the price up over 600% before the plunge.
Avis plans to aggressively pursue options against Pentwater, alleging possible SEC rule violations.