Why Is Hertz Global Stock Soaring Friday?

Hertz Global Holdings Inc. (NASDAQ: HTZ ) stock surged more than 20% in Friday’s premarket session after the rental-car company reported second-quarter results that beat Wall Street expectations, raised confidence in its turnaround and prompted CEO Gil West to argue that the stock’s current valuation is “tough to understand” despite improving fundamentals. During the post-earnings Q&A, CEO Gil West pushed back against the market’s recent view of the company, saying Hertz’s current valuation is “tough to understand” and arguing that the stock does not reflect the company’s improving fundamentals. West said Hertz’s market capitalization had fallen to roughly one-third of its level 90 days earlier despite stronger liquidity, improving operating performance and continued progress on its turnaround strategy. Hertz Global Earnings...