Hertz Global Holdings stock jumped Wednesday after the car-rental company announced it plans to sell cars on Amazon.com. In midday trading, Hertz shares were up 5% to $5.46 and Amazon stock was down 2% at $223.

Hertz Global Holdings said on Wednesday its car sales unit was partnering with Amazon.com's automotive retail platform, Amazon Autos, to sell pre-owned vehicles, sending the car rental company's shares up 7% in early trading.

Hertz said Wednesday it will begin selling pre-owned vehicles on the US store of Amazon Autos, marking a major expansion of the rental company’s retail operations as it looks to diversify revenue. Shares of Hertz jumped in premarket trading after the announcement.