VinFast shares have slid well under $22 IPO price
VinFast Auto Ltd. shares rose more than 2% on Thursday after the Vietnam-based EV maker reported third-quarter revenue that more than doubled from a year ago.
In a separate release later Thursday, the company said its total sales rose to VND8,254,306 million , 159% higher than the third quarter of 2022. Revenue was mostly from EV sales, the maker said. VinFast also makes electric scooters. FactSet does not compile analyst estimates for VinFast. The quarterly report shows unaudited results, VinFast said.
Shares of VinFast soared in their Nasdaq debut, boosting the company’s valuation well above U.S. automakers such as Ford Motor Co. F, -0.71% and General Motors Co GM, -2.67%.
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