Meme stock mania is alive and well in April 2026. Avis Budget Group (NASDAQ:CAR) is leading the pack, but several other heavily-shorted stocks are joining in. 

CAR stock is moving. See the chart and price action here. 

CAR Keeps Squeezing

Shares of Avis are up 9.23% to $665 Tuesday, capping a staggering rally that has seen the stock surge 500% over recent weeks from lows in the $80s, a move that has left short sellers bleeding. 

Barclays downgraded CAR to Sell Monday after the run, noting short interest near 100%. The downgrade has done nothing to stop the momentum. 

According to Benzinga data, short interest stood near 54% of the free float as recently as late March, with an elevated days-to-cover that amplifies every uptick. 

A stake disclosure from Pentwater Capital added fuel to the fire, and options gamma dynamics have market makers scrambling to hedge by buying shares, creating a classic feedback loop where rising prices force more covering, ...