Stock price, news, quote, and history for VinFast Auto Ltd(VFS).

VinFast Auto Ltd (VFS) - Brief, News and Quote

VinFast Auto Ltd (VFS). Despite selling only 24,000 cars last year, Vinfast’s valuation pushed it into the ranks of the world’s most valuable automakers, even surpassing rivals like Volkswagen, Ford, and General Motors (GM), whose sales are in the millions.

 

VinFast Auto Ltd (VFS). a Vietnamese EV company, is attracting unwanted attention due to huge changes in its stock price. The automaker went public in the United States in August, and its shares soared by up to 700 percent shortly after. However, its market value has now dropped by more than 90% from its peak.

Analysts previously highlighted worries about VinFast Auto Ltd (VFS). a Nasdaq-listed company, citing linked-party-driven EV sales, inflated valuations, and falling client traction. According to SEC filings for the July–September quarter, a significant portion of Vinfast’s EV sales in the nine months ending September 2023 were to linked parties or affiliates of its parent. This pattern has cast severe doubt on the company’s capacity to create a strong market presence.

Data also revealed that more than half of the EVs sold by VinFast this year went to a linked party, underscoring the company’s models’ low market demand. According to Barron’s, of the 11,300 vehicles sold in the first half of this year, 7,100 were sold to Green and Smart Mobility (GSM), a Vietnamese taxi firm managed by the carmaker’s parent, Vingroup.

VinFast Auto Ltd (VFS). has enormous plans for the worldwide market. Early assessments of the company’s EVs, however, were harsh, with some professional US vehicle critics label them “simply not ready” and “abysmal.” Its initial shipment of automobiles to the United States was delayed significantly, and a huge recall followed after the US National Highway Traffic Safety Administration (NHTSA) discovered a software flaw that raised the danger of an accident.

Chart with RSI and Moving average indicators - VinFast Auto Ltd (VFS).

VinFast Auto Ltd(VFS).

Despite these hurdles, the EV manufacturer is continuing its global growth ambitions. Despite the hurdles faced by a weakening global economy, VinFast Auto Ltd (VFS). expects to deliver 40,000 to 50,000 vehicles by 2023, nearly seven times the 7,400 EVs delivered in Vietnam last year. However, some experts believe the company’s goal of delivering up to 50,000 vehicles this year is “unrealistic.”

VinFast Auto Ltd (VFS). revenue more than quadrupled during the September quarter, thanks to an increase in car sales and deliveries. Vehicle sales nearly quadrupled from the previous quarter, reaching $319.5 million, while deliveries surpassed 10,000, up from 153 at the same time last year. Despite this, the company’s net loss increased by over 34% to $623 million, up from $466 million in the same period the previous year.

The automaker’s founder, Pham Nhat Vuong, allegedly informed investors during the company’s annual general meeting in May that it hopes to
break even by the end of 2024.

Wild price fluctuations and inflated values, - VinFast Auto Ltd (VFS).

 

It is the first Vietnamese automotive brand to go into worldwide markets and the first to produce EVs such as cars and scooters. It was founded in 2017 by one of Vietnam’s leading private corporations, Vingroup. Following its spectacular offering earlier this year, the firm created history with the quick rise of its stock price.

The automaker went public through a merger with a shell business, which was an alternate path to the stock market. Since listing, the stock price has seen wild fluctuations, similar to the volatility experienced by firms who went public in the same fashion. Vinfast shares recently ended at $6.56, a significant discount to the all-time high of $93 per share.

Despite selling only 24,000 cars last year, Vinfast’s valuation pushed it into the ranks of the world’s most valuable automakers, even surpassing
rivals like as Volkswagen, Ford, and General Motors (GM), whose sales are in the millions.

VinFast Auto Ltd (VFS). shares momentarily peaked at $200 billion, twice the combined value of Ford and General Motors, despite the firm just recently beginning to ramp up manufacturing.

Vinfast Auto shares have dropped more than 80% in the previous six months. Because of the limited number of shares available for trading,
it is prone to dramatic volatility. The shares are presently trading below the $22 IPO price, giving the business a market capitalization of around $15.46 billion.

VinFast Auto Ltd (VFS). is an avoid, according to independent investment research network SmartKarma analyst Arun George, due to related party-driven EV sales, deteriorating customer momentum, operating losses, cash burn, equity raise overhang, and inflated valuation

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