Hyperdrive
VinFast’s 400% Surge Is an Anomaly for Beaten-Down SPAC Industry
- Shares of EV maker are on a tear since their debut on Aug. 15
- De-SPACs that went public this month post median drop of 41%
This article is for subscribers only.
VinFast Auto Ltd.’s 400% surge after going public in a SPAC merger earlier this month is the lone bright spot for blank-check deals completed in August.
Beyond the Vietnamese electric-vehicle maker, investors who have held on to shares of newly public companies from tie ups with special purpose acquisition companies have mostly endured nothing but losses.