Why VinFast Auto Jumped Today and Nearly Quadrupled This Week
Shares of VinFast Auto (NASDAQ: VFS) are jumping yet again today. After a spike of nearly 30% Friday morning, the Vietnamese electric vehicle (EV) maker's stock was still higher by 17.5% as of 10:55 a.m. ET.
After going public through a combination with a special purpose acquisition company (SPAC) last week, today's move has helped the newly public stock nearly quadruple just this week.
The sharp rise now has the company's market cap at nearly $130 billion -- more than Ford and General Motors combined. Investors may have never heard of it, but it sits only behind Tesla with its valuation. It is even worth more than China-based , the second-largest global EV maker.
Source Fool.com
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