Main topic: 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.
VinFast Auto stock experiences a 109% surge, attracting traders, but it remains a puzzling phenomenon.
VinFast, a Vietnamese electric vehicle maker, has seen a significant increase in its market cap, surpassing that of major firms such as Walgreens Boots Alliance, Goldman Sachs, and 3M, leading to concerns about its valuation. One factor that may have justified the rising prices is the potential construction of a factory by one of VinFast's key suppliers, Star Group Industrial, which would provide easier access to magnets and facilitate faster production of vehicles. However, there are doubts about the sustainability of VinFast's recent sharp rises in stock prices.
Electric-vehicle startup VinFast's market capitalization has surpassed established automakers like Ford and General Motors after its shares surged following a special-purpose acquisition company deal, although the company's business results must eventually justify its valuation, according to industry analysts.
VinFast Auto, a Vietnamese electric vehicle (EV) company that recently went public through a SPAC merger, has seen its stock price surge to irrational levels despite dismal financial performance and questionable fundamentals, making it a prime candidate for an imminent crash.
Vietnamese electric vehicle maker VinFast has become the third-largest automaker globally in terms of market capitalization, following Tesla and Toyota.
VinFast Auto's stock price dropped over 31% due to a reality check after a strong rally, but it remains the third most valuable automobile stock with a market cap of around $95 billion; analysts warn of unsustainable valuation and advise against investing in it.
Vietnamese EV start-up VinFast's stock plunges, losing $90 billion in market value.
Electric vehicle stock VinFast experienced a steep decline, plunging nearly 40% after a rapid rise that puzzled analysts, highlighting the volatility of the stock.
Short-selling legend Jim Chanos described VinFast Auto as a "$200 billion meme stock" just hours before its stock dropped by more than 40%, questioning its valuation and highlighting the difficulties of shorting the stock due to its limited availability.
VinFast Auto, a Vietnamese EV start-up, offers valuable lessons about the stock market through its wild trading, teaching seasoned traders in just a short period of time.
Vietnamese EV maker VinFast's position in the US electric vehicle industry is uncertain due to its volatile stock and investors are still trying to understand its potential after its recent IPO.
Electric-vehicle startup VinFast Auto Ltd. has experienced a significant decline in market capitalization, losing over $140 billion in less than two weeks due to a continuous drop in its stock price.
