VinFast shares fall for 9th session

Opening the official trading session on September 11 on the US Nasdaq stock exchange (September 11 evening Vietnam time), VinFast Auto (VFS) shares of billionaire Pham Nhat Vuong had the 9th session of price decrease.

As of 9:00 p.m. on September 11 (Vietnam time), VFS shares were trading at $15.98 per share, down more than 6.3% from the previous session, lower than the initial price of more than $37 per share on August 15. VinFast's capitalization based on today's stock price is $36.7 billion.

VinFast shares fell for the 9th consecutive session, from a peak of 93 USD/share to below 16 USD/share.

The highest peak of VinFast shares was established at a price of 93 USD/share on August 28.

With its current capitalization, VinFast ranks 15th in the world's car market capitalization rankings, behind world-famous car manufacturers such as BMW of Germany or Honda of Japan, and above some long-standing car manufacturers in the world, including Hyundai and Kia.

VinFast's capitalization drops to 15th in the world's car industry.

VinFast is an automobile company founded in 2017 and will officially switch to electric vehicles from 2022. VinFast estimates that it will sell 50,000 electric cars in 2023. This is the first electric car company in Vietnam and the ASEAN region to list its shares on the US stock exchange.

Sharing on DealStreetAsia, Vice President of the US Nasdaq stock exchange Bob McCooey said that recently, US investors have been paying attention to businesses in the ASEAN region, including Vietnam. Recently, faces like Grab, VinFast have been listed on Nasdaq and soon VNG may be.

VinFast shares fell for the 8th consecutive session in trading on September 8 on the Nasdaq stock exchange.

Source: https://vietnamnet.vn/co-phieu-vinfast-giam-phien-thu-9-2188366.html