VinFast Soared as Much as 830%: This Comparison Should Make Investors Think Twice
In the stock market's latest head-scratching move, shares of Vietnamese electric vehicle (EV) maker VinFast Auto (NASDAQ: VFS) have soared after their initial public offering (IPO). In fact, the stock nearly quadrupled last week and has traded as high as $93 per share.
It has since settled around $53, which gives it a mind-boggling market capitalization of $123 billion -- more than Ford and General Motors combined, while selling only a small fraction of the vehicles.
But there's something interesting for investors to note in VinFast's prospectus. Black Spade, a special-purpose acquisition company that merged with VinFast for it to be listed on the Nasdaq, compared the EV maker to a competitor. And the comparison might temper investor enthusiasm.
Source Fool.com
