From Yahoo Finance: 2025-03-28 04:26:00

On Thursday, the stock market saw major indices fall as investors sold off positions to minimize risks from ongoing trade tensions. The Nasdaq dropped 0.53%, followed by the Dow Jones at 0.37% and the S&P 500 at 0.33%.

President Trump’s announcement of a 25% tariff on all vehicles imported to the US weighed down automaker shares, contributing to the broader market decline. However, 10 companies defied pessimism with new developments boosting buying appetite, including two notable gold miners.

Avis Budget Group Inc. (CAR) surged by 20.49% on Thursday to $74.16 per share, driven by investor confidence in its core car rental business. The surge was fueled by President Trump’s announcement of a 25% tariff on vehicles made outside the US, benefiting rental companies like Avis Budget.

Stock Trader Network chief strategist Dennis Dick noted that rental companies could benefit from the tariffs as consumers may choose to rent cars instead of buying due to increased car prices. JP Morgan also expressed confidence in automotive parts and services firms benefiting from consumers holding onto existing cars longer.

Despite its surge, CAR ranks 3rd on the list of stocks that defied market uncertainties on Thursday. While CAR shows promise as an investment, some AI stocks may offer greater returns in a shorter time frame. Check out our report on the cheapest AI stock trading at less than 5 times its earnings for potential investment opportunities.

Read more: Why Avis Budget Group Inc. (CAR) Surged On Thursday?