2023-08-31 12:38:21
Like Tesla in recent years, VinFast is going through a period of financial instability. This means that the value skyrockets before suffering sharp drops.
Obviously, electric car manufacturers have a knack for turning the stock market upside down! In recent years, Tesla had experienced a valuation amounting to 1000 billion dollars. Subsequently, the manufacturer had lost half of its value, however remaining the brand with the highest value on the stock market.
Last week, we reported the rise and then the sudden fall of VinFast. The automaker hit $38 a share, then lost nearly two-thirds of its value.
This time, VinFast experienced a very significant increase this week, incomparable with the previous one. The title thus rose to 91 dollars, exploding the valuation of the brand. For a few hours, VinFast thus became the third largest manufacturer in the world.
But we always know, such increases are followed by sharp declines. And VinFast was no exception, as the stock returned to a more reasonable $42.
A fall that represented a drop in value of 83 billion dollars in a single day. However, not everything is negative for the brand, whose valuation is currently higher than it was during last week’s peak.
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