Sable Offshore, Hertz Global Holdings, and Cosmos Health slumped to fresh lows on Tuesday amid a series of negative catalysts.
- SOC stock sank nearly 56% after the company announced plans to raise up to $450 million.
- HTZ stock closed down 1.5% amid price target cuts and concerns from Wall Street analysts about its growing net depreciation.
- COSM stock slumped after the company announced a share buyback of up to $5 million but recovered to close up 5.54%.
Shares of Sable Offshore Corp. (SOC), Hertz Global Holdings Inc. (HTZ), and Cosmos Health Inc. (COSM) slumped to annual lows after a series of negative catalysts triggered a sell-off.
SOC sank nearly 56% on Tuesday after the company announced plans to raise up to $450 million through a combination of stock and note offerings.
HTZ stock saw a series of price target cuts from Wall Street analysts and closed down 1.5%, while COSM slumped after announcing a share buyback but recovered to close up 5.54%.
Sable Offshore Plunges After Announcing Capital Raise
SOC stock tumbled to a low of $2.88 on Tuesday, a 91% slump from its 52-week high. The oil company took a beating after announcing plans to raise up to $450 million through a combination of equity and convertible debt offerings.
The company said it intends to sell $100 million of common stock, with an additional $15 million available for overallotments, alongside $300 million of convertible senior notes due in 2031 and an optional $45 million increase. The proceeds would primarily be used to repay its loan from Exxon Mobil (XOM) and fund general corporate and capital expenditures.
On Stocktwits, retail sentiment toward SOC stock jumped to ‘extremely bullish’ from ‘neutral’ over the past 24 hours. SOC stock has declined more than 73% this year.
Hertz Drops On Price Target Cut Due To Rising Depreciation
HTZ stock fell to a 52-week low of $2.14 amid a series of price target cuts from Wall Street analysts due to its rising vehicle depreciation costs, reflecting weakness in the used-car market.
Earlier this week, the company completed a $350 million secured exchangeable notes offering, with an option to raise an additional $50 million, which it said would help boost liquidity and financial flexibility as it advances its turnaround efforts.
Following the updates, Morgan Stanley lowered the price target on the company to $3.50 from $5 and kept an ‘Equal Weight’ rating on the shares, citing higher depreciation per unit. Last week, JPMorgan analyst Rajat Gupta said Hertz's second-quarter (Q2) pre-announcement indicated a sharper-than-expected increase in net depreciation per unit, attributed to broader softening in the used-car industry. The firm kept an “Underweight” rating on Hertz shares.
On Stocktwits, retail sentiment around HTZ stock was in ‘extremely bullish’ territory over the past 24 hours. The shares have declined more than 56% this year.
Cosmos Health Recovers Following Slump
COSM shares fell to a 52-week low of $0.16 on Tuesday amid ongoing downward pressure, as industry headwinds and overall market volatility for micro-cap healthcare stocks weighed on the company’s shares. However, the stock recovered to the green territory at close.
The company announced a share repurchase program of up to $5 million, which was almost half of its market capitalization as of June 29. It also added that it may approve further repurchases from time to time depending on market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations.
"This share repurchase program reflects our confidence in the Company's operating fundamentals and growth prospects,” Greg Siokas, CEO of Cosmos Health, said. “With record revenue, improving margins, and accelerating global momentum — including our expansion into the United States and into new categories such as animal healthcare — we believe our shares are trading at levels that do not reflect the strength of our operating momentum, asset base, and future growth trajectory.”
Shares of the company have plunged 64.48% so far in 2026. On Stocktwits, retail sentiment toward COSM stock shifted from ‘bearish’ to ‘bullish’ over the past 24 hours.
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