Main topic: Shares of VinFast Auto Ltd. have dropped after its Nasdaq debut, but its market capitalization has surpassed that of Ford and GM.
Key points:
1. VinFast's shares dropped over 18% on Wednesday and were down nearly 4% in the extended session.
2. VinFast's market capitalization reached nearly $83 billion, surpassing Ford's and GM's market values of around $46 billion each.
3. VinFast is a majority-owned affiliate of Vingroup and plans to invest up to $2 billion in its North Carolina plant to produce 150,000 EVs annually.
VinFast Auto, an electric-vehicle start-up, had a hot debut in the stock market. However, the stock price is considered indefensible due to being too expensive.
VinFast Auto stock experiences a 109% surge, attracting traders, but it remains a puzzling phenomenon.
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.
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.
U.S. markets experienced a drop on Tuesday, with VinFast Auto seeing the largest decline.
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.
Vietnamese electric-vehicle maker VinFast's revenue more than doubled in Q2 due to higher deliveries to domestic customers, although its shares have lost 54% of their value since its market debut in August.
VinFast Auto, the Vietnamese electric-vehicle maker, has been experiencing significant volatility in its stock, with an average move of 22% per trade.
VinFast stock is performing better than Polestar today as investors analyze the latest electric-vehicle data.
