Hertz Global Holdings

Last week, Tesla became the latest listed company to have traded with a market cap of over US$1 trillion.

Tesla is very much a production ramp problem, not a demand problem - Elon Musk

Yet, despite the latest bout of volatility, markets have stayed very resilient. The strength and durability of the current rally continue to confound many professional market observers.

Tesla Inc. shares are at an all-time high. Hertz Global Holdings Inc.’s are well above where they were before the company went bankrupt. But no stock in the automotive sector is a better indication of equity-market exuberance than Nikola Corp.

SAN FRANCISCO (June 27): Apple Inc. is leasing a small fleet of cars from Hertz Global Holdings Inc. to test self-driving technology, an agreement that echoes a larger deal between competitors Alphabet Inc. and Avis Budget Group Inc. Hertz shares s