VinFast Stock Plunges After EV Maker’s Blockbuster Nasdaq Debut
Shares of electric-vehicle maker VinFast Auto are down more than 30%, a day after their first trading session on the Nasdaq.
VinFast shares more than tripled in their market debut Tuesday. That gave the company a market value of roughly $86 billion, putting it comfortably ahead of industry stalwarts General Motors and Ford, Refinitiv data shows.
The Vietnamese EV business went public after merging with special-purpose acquisition company Black Spade.
