Streetbeat News

VFS

VinFast Auto Ltd.

Industry

Auto - Manufacturers

VinFast Auto Ltd., an automotive manufacturer, engages in Automobiles and E-scooter related business in Vietnam and the United States. The company operates through Automobiles, E-scooter, Spare Parts, and Aftermarket Services segments. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses. The E-scooter segment provides design, development, manufacturing, and sales of e-scooters. The Spare Parts, and Aftermarket Services segment engages in sale of spare parts and aftermarket services for automobiles and e-scooters. VinFast Auto Ltd. is based in Hai Phong City, Vietnam. The company operates as a subsidiary of Vingroup Joint Stock Company.

Open

3.90

Mkt cap

9.4B

Volume

1.1M

High

4.10

P/E Ratio

-3.78

52-wk high

9.30

Low

3.80

Div yield

N/A

52-wk low

2.25

Rivian Automotive (RIVN) reported lower-than-expected delivery figures for Q4 2023, causing its shares to drop 9.1%. Other stocks also moved lower, including Corcept Therapeutics (CORT) after a court decision, Anavex Life Sciences (AVXL) following a program update, and MiMedx Group (MDXG) after receiving an FDA warning letter. Several companies faced downgrades or negative financial updates, contributing to declines in their stock prices.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 4:47 pm

VinFast Auto Ltd (NASDAQ:VFS), a Vietnamese EV maker, has signed agreements with five dealerships in the U.S. to sell its electric vehicles, starting with the VF 8 SUV. The company plans to expand its U.S. dealer network to 125 locations and currently operates 13 stores in California. Despite this expansion, VFS shares dropped by 4.78% to $7.97 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

January 02, 2024 | 1:52 pm

VinFast, a global smart electric vehicle manufacturer, has signed agreements with five dealers in North Carolina, New York, Texas, and Kansas. These dealers will sell VinFast's electric vehicles, starting with the VF 8 SUV and later including the VF 6, VF 7, and VF 9 models as they become available in the US market.

Portfolio Pulse from Charles Gross

January 02, 2024 | 11:37 am

Vinfast Auto has announced that an unnamed buyer will purchase a convertible debenture with a principal amount of $50 million, as reported in a 6-K filing.

Portfolio Pulse from Charles Gross

January 02, 2024 | 11:06 am

In 2023, the EV industry faced production and demand challenges, with Tesla, Inc. (TSLA) doubling its stock value after aggressive price cuts. Rivian Automotive, Inc. (RIVN) also ended the year positively, maintaining production forecasts and managing costs. Global EV adoption slowed due to affordability and infrastructure issues. Tesla's North American Charging Standard gained significant adoption from other automakers. Legacy automakers scaled back EV plans due to strikes and demand slowdown. Analyst Gary Black views Tesla as the only investable EV company, with BYD and Rivian as potential winners. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) fell 7.85% for the year.

Portfolio Pulse from Shanthi Rexaline

December 30, 2023 | 3:28 pm

VinFast Auto Ltd. (NASDAQ:VFS) shares rose after announcing it will showcase its latest electric vehicle concept and the mini eSUV VF 3 at CES 2024. The company will also reintroduce its DrgnFly electric bikes, first shown at CES 2023. The presence at CES 2024 underscores VinFast's commitment to sustainable transportation and innovation. CES 2024 will occur from Jan. 9 to Jan. 12 in Las Vegas. VFS shares closed up 4.88% at $8.38.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 9:37 pm

VinFast Auto's stock price is on the rise following the announcement that the company will unveil its latest electric vehicle concept and the mini eSUV VF 3 at the upcoming CES 2024 event.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 6:57 pm

VinFast Auto (NASDAQ:VFS) is set to showcase its new EV concept, the mini eSUV VF 3, and the DrgnFly electric bikes at CES 2024. The event will take place from January 9-12, 2024, at the Las Vegas Convention Center. The company will also display its VF 9 full-size SUV with a new streaming service. These introductions emphasize VinFast's commitment to expanding its EV lineup and enhancing the EV ecosystem.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 11:35 am

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm

Cantor Fitzgerald analyst Andres Sheppard has reiterated an Overweight rating on VinFast Auto (NASDAQ:VFS) and maintained a price target of $7. The reaffirmation of the rating and price target suggests continued confidence in the company's prospects.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 1:12 pm

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