, Columnist
Hyundai’s Riding High on Hope Alone
Promises can’t engineer a recovery for the South Korean automaker, whose stock is rising even as earnings plummet.
Cosmetic changes won't cut it.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Hyundai Motor Co. investors are riding high on nothing but hope.
The South Korean carmaker reported Thursday that operating profit fell 35 percent in the fourth quarter from a year earlier. The stock initially fell as much as 3.5 percent, though the results shouldn’t really have been a surprise.