An EV Maker You May Not Have Heard of Is Now the World’s Third-Most Valuable Car Company

  • 📰 RobbReport
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

Vinfast only went public earlier this month.

Vinfast’s stock only debuted on the NASDAQ exchange on August 15. Since then, its value has more than quadrupled. Its sky-high market cap places it behind only Tesla and Toyota among automakers, and ahead of much more established names like Mercedes-Benz , Volkswagen and Ford .

The company’s stock isn’t just performing well compared to other automakers, either. Vinfast’s market cap at the end of trading on Monday meant that it was bigger than half the companies on the Dow Jones Industrial Average,. This includes some of the most well-known companies in the world, like Walt Disney Co. , Boeing and Goldman Sachs .

Vinfast’s stock has taken off in part because only a relatively small number of shares are publicly available. Vietnamese richest person, Pham Nhat Vuong, owns 99.7 percent of Vinfast, according to Reuters. Because of this, performance of the stock has proven to be quite volatile. The company’s stock rose or fell by more than 14 percent nearly every day it’s been traded.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 309. in US

United States United States Latest News, United States United States Headlines