Tesla Investor Says VinFast, At $200B Market Cap, 'Even Bigger Bubble' Than Nikola Was In 2020
Portfolio Pulse from Shanthi Rexaline
Vietnamese electric vehicle startup VinFast Auto Ltd. (NYSE:VF) has seen its shares rise from under $11 to over $82, giving it a valuation of more than $191 billion. Noted Tesla investor and Future Fund Managing Partner Gary Black commented that VinFast at $200 billion market cap is an even bigger bubble than Nikola Corp. (NASDAQ:NKLA), which in 2020 traded at $60 per share and had a $25 billion market cap. Despite the registrations for VinFast’s EVs hitting only 137 in the U.S. in the first half of the year, the company expects to sell 50,000 EVs this year.
August 29, 2023 | 9:28 am
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NEUTRAL IMPACT
Nikola Corp. was mentioned as a comparison to VinFast's current situation, having previously been considered a bubble.
Nikola Corp. was mentioned as a comparison to VinFast's current situation. Nikola was previously considered a bubble and its stock price fell significantly. This could potentially impact investor sentiment towards Nikola.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
VinFast's shares have risen significantly, leading to a high valuation. However, concerns have been raised about it being a bubble.
VinFast's shares have risen significantly, leading to a high valuation. However, a noted investor has raised concerns about it being a bubble, similar to Nikola in 2020. This could potentially lead to a correction in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100