on earth for a brief time, and prices have fluctuated wildly from highs of $93 per share down to $17.24 earlier this week.
As more information is revealed about the automaker, such as the source of its vehicles’ buyers, and the fact that it is struggling to maintain its presence in the U.S., its value has risen and fallen quickly. One of the biggest factors in the stock’s roller coaster performance has simply been how many shares are available.
Of the 2.3 billion outstanding VinFast shares, 1.2 billion are held by Vingroup. Another 1.1 billion are owned by Vietnam Investment Group and Asian Star, two investment entities owned by Vuong. That effectively means that the industrialist owns 99.7 percent of VinFast stock, leaving the rest subject to big swings in value.
However, Tuesday’s filing with the SEC was made in order to allow another 11 million shares to be sold from existing shareholders, which may help smooth out some of the volatility.