What's Going On With VinFast Auto Shares Today?
Portfolio Pulse from Nabaparna Bhattacharya
VinFast Auto Ltd. (NASDAQ:VFS) shares are relatively stable in premarket trading after a nearly 8% drop yesterday. The company is recalling around 6,000 VF 5 cars in Vietnam due to a combination switch replacement. This follows a previous recall of the VF 8 City Edition. Despite these issues, VinFast's deliveries surged by 35% in the last quarter of 2023. The company fell short of its 2023 delivery target, achieving nearly 35,000 units against a goal of 40,000.
February 06, 2024 | 10:28 am
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VinFast Auto Ltd. is experiencing stock stability after a recall of 6,000 VF 5 cars in Vietnam, following a previous recall of the VF 8 City Edition. Despite these recalls, the company saw a 35% increase in deliveries in Q4 2023.
The stability of VFS shares despite recent recalls suggests investor confidence or a neutral market reaction to the news. The increase in Q4 deliveries may offset concerns about the recalls, but the missed 2023 target could temper optimism.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100