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Why VinFast Auto Stock Skidded This Week

TheMotleyFool

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Why VinFast Auto Stock Skidded This WeekPhoto, wide shot, wide-angle lens, soft focus, Auto parts supplier, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-XjwbnkgTrFCFx6Y3gLbqZBCj.png?st=2023-05-13T09%3A21%3A52Z&se=2023-05-13T11%3A21%3A52Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-05-13T06%3A55%3A39Z&ske=2023-05-14T06%3A55%3A39Z&sks=b&skv=2021-08-06&sig=wJlbn/o%2BieTjclaQNRsJc%2BDDZieC0UCS6BPi5tapxAA%3D

VinFast Auto (NASDAQ: VFS) stock is falling fast and furious in the new year, shedding 17% in the first trading week of 2024 through Friday at noon.

Ironically, VinFast moved to boost sales in the U.S. this week and is all set to launch new models at the Consumer Electronics Show (CES) in the coming days. The electric vehicle (EV) stock even bagged a buy rating from an analyst this week who sees more than 40% upside in the stock from its Friday opening price. So why is VinFast Auto stock falling?

Let's take a look at the good news first.

Source Fool.com

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