Once valued at more than GM and Ford combined, VinFast's share prices have taken a beating in recent days, falling to one-third of what they were worth at their peak
It’s been a big week for VinFast, which offered traders their first chance to invest in it after going public on Tuesday. Its share prices quickly shot up, and trading suggested that it was more valuable than Ford and General Motors combined. Today, its shares are already worth nearly two thirds less than they were at their peak.were trading at $38.78, up from their starting value of $22. However, now the automaker’s stock is trading at just $13.94, meaning that it is valued at $32.
While the degree to which the automaker’s shares are changing is noteworthy, it isn’t surprising, reports Since the company’s founder, Pham Nhat Vuong, controls around 99 percent of the company, the small amount of stock available for public trading opens it to volatility.
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