VinFast’s Stock Surge Is a ‘Coin Toss’ for Investors
- Stock’s tiny float, EV-maker status help drive massive gains
- ‘This is like a turbo-charged Rivian or Lucid’: strategist
VinFast electric vehicles loaded for export at a port in Haiphong, Vietnam.
Photographer: Linh Pham/BloombergThis article is for subscribers only.
Boasting a higher market capitalization than General Motors Co. and Ford Motor Co. put together, loss-making VinFast Auto Ltd. raises a familiar question for EV investors: how long can it hold its stellar gains.
Wild swings since its first day of trading as a public company recall cautionary tales when it comes to electric vehicle makers, with Rivian Automotive Inc. and Lucid Group Inc. among those now trading well below their peaks.