VinFast's capitalization drops to 35 billion USD, Tesla and BYD also evaporate tens of billions of USD

Opening the official trading session on September 22 on the US Nasdaq stock exchange (September 22 evening Vietnam time), VinFast Auto (VFS) shares of billionaire Pham Nhat Vuong decreased for the third consecutive session.

Specifically, as of 9:30 p.m. on September 22 (Vietnam time), VFS shares decreased 2.9% compared to the previous session to 15.3 USD/share.

*VinFast shares fell for the third consecutive session and are at their lowest level since being listed on the US Nasdaq on August 15.*

With the current price of 15.3 USD/share, the capitalization of VinFast Auto (VFS) of billionaire Pham Nhat Vuong stands at 35.2 billion USD.

In the past 11 sessions, VinFast shares have fluctuated between 15-18 USD/share. Liquidity remains low.

In the session on September 21, VinFast recorded only 3.28 million units transferred.

With the stock price falling sharply in 3 sessions, VinFast's capitalization has plummeted. The scale of billionaire Pham Nhat Vuong's electric car company ranks 15th in the world , behind China's Li Auto and Maruti Suzuki India.

Billionaire Elon Musk’s Tesla, the world’s largest electric car company, also fell sharply. After losing more than $30 billion at the same time last session, Tesla fell another $10 billion to $806 billion.

*VinFast's capitalization drops to 15th place.*

China's largest electric car maker BYD also fell and is now worth $95.6 billion.

On September 21, VinFast announced its business results for the first 6 months of 2023 to the US Securities and Exchange Commission, stating that its total assets reached 4.9 billion USD.

Investors are now waiting to see how many electric cars VinFast will sell in the American and European markets in 2023.

VinFast's market capitalization drops to $38 billion, ranking above Chinese electric car maker VinFast's stock price fell sharply when the trading session opened on September 21 on the Nasdaq stock exchange. The market capitalization of billionaire Pham Nhat Vuong's car company dropped to $38 billion but still ranked above Chinese car makers.

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