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VinFast Stock Plunges Again: Unearthing the Potential Factors to Tame the Wild Trading

Factors, Plunges, Potential, Stock, Tame, Trading, Unearthing, VinFast, Wild

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VinFast Stock Plunges Without Clear Reason

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A woman stands next to a display at a VinFast launch ceremony in Hanoi on July 7.

Nhac Nguyen/AFP via Getty Images

Shares of VinFast Auto Plunge

  • VinFast (VFS) stock closed down almost 27% Thursday, at just below $18 a share
  • S&P 500 and Nasdaq Composite were off 0.3% and 0.9%, respectively
  • Shares have dropped seven consecutive days, wiping out some $150 billion in market value

Unexplained Swings and Volatility

  • Shares of VinFast stock have experienced wild swings without any particular news to explain the moves
  • Traders are attracted to the volatility of VinFast stock
  • Shares have moved up or down an average of 40% a day since the stock symbol changed

Valuations and Analyst Coverage

  • VinFast is trading at about 22 times potential 2023 sales
  • Comparatively, Lucid (LCID) sells for about 14 times and Rivian Automotive (RIVN) for about four times
  • No analyst covers the VinFast stock

Uncertain Future

  • Wall Street’s outlook for VinFast remains uncertain
  • Technical analysis is not helpful in understanding the stock’s behavior
  • Analyst ratings and more useful data are expected in the coming months

Write to Al Root at [email protected]

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