VinFast’s $65 Billion De-SPAC Valuation Vaults It Past Ford, General Motors
- Its 255% jump from Monday makes it top performing de-SPAC
- But its a low-float company, so stock is prone to large swings
VinFast vehicles at the port in Haiphong, Vietnam.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
VinFast Auto Ltd. soared in its debut as a public company, vaulting its market capitalization beyond that of General Motors Co. and Ford Motor Co., as traders flipped shares of the electric-vehicle maker.
The Vietnamese company, which went public in a SPAC deal, is worth about $85 billion after shares soared Tuesday, rising to $37.06 in New York — up more than 270% from the SPAC’s IPO price and more than tripling the deal’s $23 billion implied equity value.