EV maker Vinfast still worth more than Ford and GM after stock tanks 19%

VinFast's remarkable debut on the Nasdaq public exchange and its ambitious plans to break into the U.S. marketplace.

Key points:

1. VinFast's stock price soared 68% on its debut, giving it a valuation of $86 billion, surpassing established automakers like Ford, GM, and Stellantis.
2. Despite a subsequent drop in stock price, VinFast still maintains a market cap ahead of other automakers.
3. VinFast aims to enter the U.S. market by building a $2 billion EV factory in North Carolina and opening showrooms in California and other states.

Hint on Elon Musk: Elon Musk is the CEO of Tesla, a prominent electric vehicle manufacturer, and the search for the next Tesla may be driving investor interest in VinFast.