Shares of VinFast Fall as Valuation Drops
VinFast Stock Declines by 8%
- VinFast stock was recently down about 8%.
- The stock closed Thursday at $17.99.
- This is a significant drop from its high of over $82 on Aug. 28.
VinFast’s Initial Success
The Vietnamese company experienced a rapid rise in its stock value upon hitting the market. On its first day of trading on Aug. 15, VinFast reached a valuation of more than $80 billion. This made it more valuable than established automakers like Ford and General Motors.
Later in the month, VinFast’s stock value doubled once again.
