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

[ad_1]

Vietnamese EV maker VinFast’s debut Tuesday on the Nasdaq public exchange was nothing short of remarkable. The automaker, which went public via a merger with special purpose acquisition company Black Spade Acquisition, saw shares catapult 68% to close at $37.06 — giving it a valuation of $86 billion, a figure far above Ford, GM and Stellantis.

But the real stunner came Wednesday. Even after VinFast’s stock price plummeted 18.75% and closed at $30.11, the company was still holding onto a market cap that put it well ahead of other established automakers.

It’s an eyebrow-raising valuation for a young EV upstart that delivered just 11,300 vehicles in the first half of 2023. And its fundamentals show a company with costly ambitions that far outweigh revenue. VinFast wants to break into the U.S. marketplace on the retail and production fronts, a plan that includes building a $2 billion EV factory in North Carolina and opening up showrooms in California and other states.

So what’s driving investor interest and volatility? The search for the next Tesla certainly plays a role. But there may be other reasons afoot. As the WSJ noted, 90% of the SPAC’s investors took their money out of the deal before it was completed. Fewer shares available for trading means lots of room for big swings in the share price.

Share volatility is likely to continue for VinFast. But the real test will be in the years to come as VinFast attempts to scale production and sell Americans on its portfolio of EVs. That could be a rough road, considering that VinFast’s VF8 EV has been widely criticized for just about everything from ride quality to literally failing to operate.

[ad_2]

Source link

We will be happy to hear your thoughts

Leave a reply

https://thesunnysides.com/wp-content/bonus-new-member/

https://www.fastagram.fr/wp-includes/pragmatic-play/

https://equipatex.com.br/wp-includes/slot88/

https://trendingfashionhub.com/wp-includes/slot-bet-100/

https://becfe.com/wp-includes/slot88/

https://teccord.com/wp-includes/slot777/

https://eshottairfield.com/wp-content/slot777/

https://nassaugolf.com/wp-includes/slot-resmi/

https://loanmart.co.in/wp-includes/slot777/

https://www.rishabhdeomicrominerals.in/wp-includes/slot88/

Slot

Slot777

Slot Bet Kecil

Slot88

slot777

slot88

https://simarj.org.br/wp-content/slot777/

https://www.hontrade.fi/slot-resmi/

https://psychprovider.com/wp-content/slot-bet100/

https://wznh.org/wp-content/slot88/

https://monika-boettcher.com/wp-content/slot-bet-100/

https://www.herbanaturalcolour.com/wp-content/slot88/

RTP

Slot Deposit

Slot Bet Kecil

Slot88

Slot Bet 100

Slot88

Slot88

Slot Bet 100

Slot88

Slot bet 100

Slot777

Slot

Slot PG Soft Bet 200

Pragmatic Play

Slot Bet 200

Situs Slot88

Slot Bet 200

Slot88 Gacor

https://fanboyscollectors.com/wp-includes/slot777/

https://flamencomv.com.ve/wp-includes/sbobet/

https://cafe-bazilio.ru/slot-bet-100/

https://irancar.co/wp-content/mahjong-ways/

https://mehravaraneshahr.com/wp-content/slot-bet-100/

https://webem.ru/wp-includes/slot88/

https://mesure-pro.com/wp-content/slot-resmi/

https://nhero.ru/wp-content/slot-deposit-pulsa/

https://cafe-bazilio.ru/slot-bet-100/

https://irancar.co/wp-content/mahjong-ways/

https://1goodstore.com/wp-content/slot88/

https://tribaltravellaos.com/wp-admin/slot777/

https://morganwantads.com/wp-includes/slot-server-platinum/

https://www.guuf.org/wp-includes/slot-gacor/

https://turkuazmobilya.net/wp-includes/slot-server-platinum/

https://passioncode.fr/wp-includes/slot88/

https://bistrotagines.se/wp-content/sbobet/

https://www.oligoflowersbeauty.it/wp-content/slot-resmi/

https://www.birkatshalom.org/wp-includes/slot-server-platinum/

Bonus New Member

akun pro platinum

Slot Server Platinum

Slot88

pragmatic

Slot88

bonus new member

https://plosefit.com/slot-kamboja/

https://www.socalimplants.com/

https://hernanbrito.online/

https://yourcbdsite.com/

https://www.esquimmo.com/olympus/

https://newsbell.website/wp-content/pragmatic-play/

https://ostalux.com/bonus-new-member/

https://sadirista.com/wp-content/rtp-slot/

https://burhanienterprise.net/wp-content/sbobet-euro/

https://apk.urbanciaga.com/wp-content/starlight-princess/

https://givebacktocommunity.org/wp-content/pragmatic-play/

https://www.vishwaarogyasena.com/wp-includes/slot-bonus/

https://psdwing.com/rtp-slot/

https://susanamendezjewelry.com/wp-content/sbobet-euro/

https://bidirdioglu.com/wp-includes/starlight-princess/

https://programacion.click/aztec-gems

https://successionquest.com/slot-bonanza

https://paggitech.com/starlight-princess/

https://rocmont.com/slot-qris

https://tonimarengo.es/slot-bonus/

Situs Judi Bola

Situs Judi Bola

Sbobet

Sbobet

Sbobet

judi bola online

judi bola online

daftar sbobet

Judi Bola

Judi Bola

Judi Bola

Judi Bola

Situs Judi Bola

sbobet88

https://rayaclub.com/judi-bola/

https://hergrill.com/judi-bola/

situs judi bola

situs judi bola

situs judi bola

judi bola

sbobet

situs judi bola

situs judi bola

Judi Bola

Judi Bola

Sbobet

Situs Judi Bola

Situs Judi Bola

Slot Dana

judi bola

Sbobet

Slot Mental