Why VinFast Auto Stock Jumped Today
VinFast Auto (NASDAQ: VFS) launched its VF 3 low-cost electric SUV in January at the Consumer Electronics Show in Las Vegas. But the Vietnamese electric vehicle (EV) maker didn't start accepting orders for the compact SUV until last week. And initial interest looks to be huge.
After reports that it received deposits for nearly 30,000 of the new EV model in under 72 hours, shares jumped as much as 15% today. While the stock has since given up some of those gains, it was still trading higher by 5.5% as of 12:55 p.m. ET on Thursday. That added to gains earlier this week for a total jump of almost 50%. But investors should temper any excitement.
Source Fool.com
