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

VinFast has entered into a Standby Equity Subscription Agreement with YA II PN, Ltd. Under this agreement, VinFast has the right to issue ordinary shares worth up to $1B to Yorkville.

Portfolio Pulse from Charles Gross

October 20, 2023 | 10:28 am

Vietnam-based EV maker VinFast Auto Ltd. (NASDAQ:VFS) predicts continued electric car and scooter sales to an affiliated ride service owned by its founder, Pham Nhat Vuong, into 2024. The company has sold about 13,000 electric cars to Green SM, a Vietnam-based taxi operator and leasing provider 95% owned by VinFast's founder. The sales from Green SM made up approximately two-thirds of VinFast's EV sales in the first two quarters following its Nasdaq listing. VinFast also plans to acquire a 99.8% stake in VinES Energy Solutions from Vuong for approximately $462 million debt.

Portfolio Pulse from Nabaparna Bhattacharya

October 19, 2023 | 12:12 pm

Credit Suisse AG is under investigation by Singapore authorities for money laundering, following its acquisition by UBS Group AG. The probe has so far seized around $2 billion in assets and raises questions about the bank's potential status as a safe-haven for dirty money. This comes at a time when UBS and Credit Suisse are also under investigation by the Department of Justice over evasion of Russian sanctions. The news poses a risk to the bank's global relationships and comes after the loss of six high-ranking executives from Credit Suisse.

Portfolio Pulse from Daniel Harrison

October 18, 2023 | 6:51 pm

VinFast shares are experiencing a downturn due to continued weakness. The company has announced plans to seek capital for its expansion into Southeast Asia.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 5:12 pm

Benzinga's options activity scanner has identified significant options activity in the Consumer Discretionary sector. Notable transactions include bullish put options for TSLA and WYNN, bearish put options for VFS, CVNA, and SONO, and bearish call options for DKNG, LULU, and ABNB. Neutral sentiment was observed for MCD, while LVS showed bullish call options.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 5:35 pm

Benzinga's options activity scanner has identified unusual trading activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), VFS, Lululemon Athletica (LULU), PulteGroup (PHM), Crocs (CROX), Skechers (SKX), Home Depot (HD), Starbucks (SBUX), CarMax (KMX), and Helen of Troy (HELE). The activity includes both bullish and bearish sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

October 16, 2023 | 5:35 pm

VinFast shares are trading lower following the company's announcement that it will seek capital for its expansion into Southeast Asia.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 3:40 pm

Vietnamese electric vehicle (EV) manufacturer VinFast Auto Ltd (NASDAQ:VFS) is planning to expand into Southeast Asia, starting with Indonesia. The company is on track to achieve its sales projection for the year of 45,000 to 50,000 vehicles. VinFast is also constructing a $2 billion manufacturing complex in North Carolina and plans factories in Indonesia and India. The company expects to break even by the end of 2024 and achieve profitability post-2025.

Portfolio Pulse from Shivani Kumaresan

October 16, 2023 | 3:06 pm

The week ending October 13 saw a lackluster performance from electric vehicle (EV) stocks, with Tesla's Q3 margins causing concern among analysts. Rivian's stock is now seen as undervalued by some analysts, while Fisker is planning to expand into China. Lucid's delay in delivery has unnerved investors, and Ford is offering a $7,500 discount on its F-150 Lightning. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 14, 2023 | 1:18 pm

Nio Inc. (NYSE:NIO) has entered the insurance business by acquiring Anhui-based Huiding Insurance Broker Company Limited, now renamed as Nio Insurance Broker Company Limited. This move aligns Nio with other Chinese EV manufacturers like Li Auto Inc (NASDAQ:LI), BYD Company Limited (OTC:BYDDY), and Xpeng Inc (NYSE:XPEV) who have their own insurance subsidiaries. Nio's sales have been increasing, delivering 50% more vehicles in September in China than the previous year.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 1:23 pm

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