Why VinFast Auto Stock Crashed 11% Today
Shares of VinFast Auto (NASDAQ: VFS) stock collapsed in Monday morning trading, falling by 11% through 9:45 a.m. ET -- and it's no great mystery as to why.
The electric vehicle maker may soon drop more than 100 million new shares of its stock onto the market.
The details of the transaction VinFast is contemplating are contained in a Form F-1 registration statement that was filed with the Securities and Exchange Commission Monday morning. As described therein, the world's most famous Vietnamese carmaker plans to issue as many as 100.8 million shares of its stock to a Cayman Islands underwriter called "YA II PN, Ltd" (and abbreviated as "Yorkville"), "from time to time" and "at any time" from right about now up through Nov. 1, 2026.
Source Fool.com
