EV and battery thread, page-1916

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Stephan90

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16/08/23

22:50

Post #: 69382286
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Originally posted by triage: ↑

You live long enough, you get to see surprising stuff. A half a century or so after the end of what the Vietnamese call the American War and what the yanks and we call the Vietnam War which pitched the free world against a bunch of commies we have this ...

"VinFast's shares (VFS.O) soared in thin trading in their Nasdaq debut on Tuesday following the Vietnamese electric vehicle maker's $23 billion backdoor listing as the startup said it was likely to raise money from global investors within 18 months... It surged further during the session, ending at $37.06 and valuing the EV maker, which has not posted a profit, at $85 billion, more than Ford's (F.N) market capitalization at $48 billion and General Motors' (GM.N) $46 billion stock market value."

A flash in the pan no doubt but still remarkable to me. I've not heard if VinFast cars are any good but if they are intending to compete on price they probably have a formidable competitor in BYD already operating in that niche (earlier this week I saw my first BYD driving around, not too shabby to look at).

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Here is a review, the stock looks like an epic bubble to me. I really wonder who bought shares at over 80 billion USD of market cap.

2023 VinFast VF8 City Edition First Drive Review: Yikes (insideevs.com)

AKE Price at posting: $13.49 Sentiment: Buy Disclosure: Held
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EV and battery thread, page-1916

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