Cramer says Robinhood speculative favorite Hertz is 'worth zero' even with stock offering

CNBC's Jim Cramer said Monday that he thought the equity in Hertz would be wiped out during its bankruptcy process.

The rental car stock, which has been popular among retail investors, traded wildly last week, ranging from $6.25 per share to $1.71. A bankruptcy judge gave Hertz permission to issue new shares because of the interest in the stock, and the company could raise up to $500 million from the deal.