Is VinFast Auto a Millionaire Maker?
VinFast Auto (NASDAQ: VFS) took investors on a wild ride after it went public by merging with a special purpose acquisition company (SPAC) last August. The Vietnamese automaker's stock opened at $22 on the first day of trading and soared to a record high of $82.35 less than two weeks later, but now trades at about $5.
VinFast initially impressed investors with its ambitious delivery targets and electric vehicle (EV) plans, but its stock crashed when it missed those estimates. High interest rates also compressed its valuations and cast a harsh light on its steep losses.
Image source: VinFast.
Source Fool.com
