Why VinFast Stock Traded Lower Thursday
Portfolio Pulse from Ryan Gustafson
VinFast Auto Ltd. (NASDAQ:VFS) shares traded lower due to overall market weakness and the company's Q2 earnings report. The company reported a loss of 23 cents per share, better than a loss of 25 cents YoY. Revenue totaled $334.1 million and vehicle deliveries were 9,535 units. VinFast anticipates vehicle deliveries of between 40,000 and 50,000 vehicles in 2023. The stock was also impacted by a rise in Treasury yields after Wednesday's FOMC statement.
September 21, 2023 | 9:10 pm
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VinFast's stock traded lower due to overall market weakness and the company's Q2 earnings report. The company anticipates vehicle deliveries of between 40,000 and 50,000 vehicles in 2023.
VinFast's stock traded lower due to overall market weakness and the company's Q2 earnings report. The company reported a loss, which is generally viewed negatively by investors. However, the loss was less than the previous year, which could be seen as a positive sign. The company's forecast for vehicle deliveries in 2023 could also impact the stock's performance. Additionally, the rise in Treasury yields could lead to more rate hikes, which could negatively impact the stock.
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