VinFast's Market Cap Skyrockets With 20% Stock Surge, Securing Third Position After Tesla And Toyota
Portfolio Pulse from Benzinga Neuro
Vietnamese EV manufacturer VinFast's shares surged 20% in the U.S. market, making it the third largest automaker by market capitalization globally, after Tesla and Toyota. Despite not being fully operational in the U.S., the EV boom has prompted a buying frenzy among individual investors. VinFast, which was listed on the Nasdaq in mid-August, overtook the market cap of General Motors and Ford Motor on its first trading day.
August 29, 2023 | 4:35 am
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NEGATIVE IMPACT
VinFast overtook the market cap of Ford Motor on its first trading day.
VinFast overtook the market cap of Ford Motor on its first trading day, which could potentially impact Ford Motor's stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
VinFast overtook the market cap of General Motors on its first trading day.
VinFast overtook the market cap of General Motors on its first trading day, which could potentially impact General Motors' stock price.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Toyota is the second largest automaker by market capitalization globally.
Despite the surge in VinFast's shares, Toyota remains the second largest automaker by market capitalization globally.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Tesla remains the largest automaker by market capitalization globally.
Despite the surge in VinFast's shares, Tesla remains the largest automaker by market capitalization globally.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
VinFast's shares surged 20% in the U.S. market, making it the third largest automaker by market capitalization globally.
The surge in VinFast's shares is due to the EV boom, which has prompted a buying frenzy among individual investors. Despite not being fully operational in the U.S., the company's market cap has skyrocketed.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100