VinFast loses $83 billion in market value in one day
The electric carmaker, whose stock had gained 677% over the past month, lost the equivalent value of nearly two Ford Motors.
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The electric carmaker, whose stock had gained 677% over the past month, lost the equivalent value of nearly two Ford Motors.
Vinfast has barely sold 25,000 units of its electric vehicles worldwide in 2022. Yet, the EV startup has seen its value soar after it made its listing debut at Nasdaq on August 15.
The last time a stock with a tiny free float rose from relative obscurity to the ranks of the worlds largest companies, it didnt end well. AMTD Digital Inc., another US-listed company with roots in Asia, soared more than 32,000% in the span of a few weeks. AMTD has since tumbled more than 99%, hitting a record low last week. Its valuation now stands at a humble $1.2 billion.
AMTD Group Inc., AMTD IDEA Group , AMTD Digital Inc. , and AMTD World Media and Entertainment Group , the multi-media, entertainment and cultures worldwide platform of AMTD Group, are thrilled to...