BUSINESS

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BUSINESS

VinFast's shares surges 700% in 2 weeks

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VinFast's market surge

Vietnamese EV manufacturer VinFast's market value has surged to $191 billion, making it the third-most valuable automaker behind Tesla and Toyota.

2

Wall Street debut success

This rapid growth follows its successful Wall Street debut, with shares gaining around 700% since August 15.

3

Stock volatility

The stock's volatility is due to the limited public float, as Vietnam's richest man, Pham Nhat Vuong, owns 99.7% of the automaker through parent conglomerate Vingroup.

4

Retail investors intrigued

Retail investors have shown keen interest in VinFast's fluctuations. Its shares have surged or declined by over 14% in 11 of last 12 trading sessions.

5

VinFast's EV challenges

Despite its impressive market value, VinFast faces significant challenges in competing with established automakers in the EV market.