Volkswagen-Led Pain in Auto Stocks Seen Deepening by Options
- Once top performers, carmakers got hit by China, euro, now VW
- Cost to hedge against further share drops is soaring
Is Volkswagen's Reputation Polluted by Diesel Cheating?
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Money manager Michael Woischneck has been inundated with calls from charities, foundations and churches -- clients that prefer investing in socially responsible companies -- urging him to avoid Volkswagen AG. He says he has had little choice but to dump the automaker’s shares.
His firm, Lampe Asset Management, is among many surprised by the German company’s widening scandal over faked pollution controls. That caused VW to lose a third of its value, or about 23 billion euros ($25 billion), in just two days.