"The stock opened at $22, more than double the $10 per share agreed with VinFast's SPAC partner Black Spade Acquisition that had valued VinFast at $23 billion.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 market capitalization at $48 billion and General Motors' $46 billion stock market value."