VinFast's capitalization decreased by 16 billion USD

Opening the trading session on August 16 on the US Nasdaq stock exchange, VFS shares of electric car company VinFast decreased about 30%, to 26 USD/share.

Then VFS reversed the trend and increased sharply.

At the end of the trading session on August 16 on the US stock exchange (early morning of August 17, Vietnam time), compared to the first session, VFS shares only decreased by nearly 19%, trading at 30.1 USD/share.

At this level, VinFast's capitalization is still very high, more than 69 billion USD.

This is quite common for many newly listed stocks on the US stock market, especially for technology stocks.

In the first trading session on the US stock market, VinFast shares closed above the threshold of 37 USD. 6.7 million VFS shares were transferred, higher than the total free float of 4.5 million units.

At a capitalization of 85 billion USD, VinFast surpasses Ford, General Motors and many famous car manufacturers.

VinFast also became the Vietnamese enterprise with the largest capitalization value to date and became the 3rd largest electric vehicle manufacturer in the world , behind only Tesla and BYD.

VinFast shares at times fell to nearly 25 USD/share.

VinFast's capitalization of 85 billion USD is larger than the total value of the 8 largest enterprises on the Vietnamese stock exchange combined and exceeds the total capital of the entire Vietnamese banking industry combined.

Domestically, Vingroup (VIC) shares - the parent company of VinFast - increased by 4,900 VND to 75,600 VND/share on August 16. According to Forbes, billionaire Pham Nhat Vuong, Chairman of Vingroup, saw his assets increase by 200 million USD to 5.9 billion USD.

Many Vietnamese investors are interested in VinFast stock fluctuations.

During the day, investors monitor the fluctuations of Vingroup shares in Vietnam and at night follow the fluctuations of VinFast shares on the US Nasdaq exchange.

VinFast 85 billion USD, Vingroup shares 'explode', carry the stock market Billionaire Pham Nhat Vuong's Vingroup shares increased dramatically after VinFast was successfully listed on the US Nasdaq stock exchange with a valuation of up to 85 billion USD.

Source: https://vietnamnet.vn/vinfast-giam-16-ty-usd-von-hoa-2178396.html