Why VinFast Auto Stock Motored Higher Today
It was quite a memorable Monday in the short history of electric vehicle (EV) maker VinFast (NASDAQ: VFS). The company formally opened its first factory in Southeast Asia outside of its native Vietnam, and investors cheered the expansion. They collectively traded the company's U.S.-listed shares up by more than 5% on a generally gloomy day for the stock market.
VinFast cut the ribbon on that new facility, located in Subang, Indonesia. It did so in a formal ceremony that included representatives of both the Indonesian and Vietnamese governments, in addition to company officials.
Image source: Getty Images.
Source Fool.com
