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Why New IPO Stock VinFast Surged 94% Today

TheMotleyFool

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Shares of VinFast Auto (NASDAQ: VFS), the Vietnamese electric vehicle (EV) start-up that made a stellar market debut one week ago, skyrocketed today and were up 94% as of 11 a.m. ET. VinFast's market capitalization shot past $70 billion today as investors lapped up a big update from the company.

VinFast has announced that the U.S. Environmental Protection Agency (EPA) range ratings for its new all-electric seven-seater VF 9 SUV have surpassed the company's own initial estimates.

Specifically, the VF 9 Plus version priced at $83,000 has been certified with an EPA range of 291 miles, while the Eco version ($91,000) has a certified EPA range of 330 miles when fully charged.

Source Fool.com

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