VinFast shares on Nasdaq closed the week soaring to a new peak

The US stock market closed the last trading session of the week on August 25 (early morning of August 26, Vietnam time) with a strong increase. Specifically, the Dow Jones index increased by 247.48 points (equivalent to 0.73%) to 34,346.90 points; the S&P 500 index added 0.67% to 4,405.71 points and the Nasdaq Composite advanced 0.94% to 13,590.65 points.

Many stocks increased sharply in this session. More impressively, VFS stock of the Vietnamese electric car brand - VinFast set a new high when it increased by 40.35%, reaching 68.77 USD. At one point during the trading session, this stock even jumped above 72 USD.

VinFast's VFS shares closed on August 25 at nearly 69 USD

Compared to the first session of listing on Nasdaq at $22, VFS shares have tripled after nearly 10 trading sessions. During the weekend session, more than 15 million VFS shares were traded. The liquidity of the shares has remained quite good in recent sessions, with nearly 20 million shares changing hands in one session.

VinFast shares soar to new peak, billionaire Pham Nhat Vuong becomes 23rd richest in the world

At this price, VinFast's capitalization has reached nearly 160 billion USD. According to Forbes ' update, billionaire Pham Nhat Vuong owns assets worth 55.8 billion USD and is the 23rd richest person in the world . His assets have increased by 14.7 billion USD in just one day.

In a recent interview with CNN (USA), Ms. Le Thi Thu Thuy - General Director of VinFast - said that the factory in Vietnam can reach a capacity of 300,000 units/year and the company has plans to expand its scale to 950,000 units/year. The advantage in labor costs, along with a sustainable supply chain, has created a great competitive advantage for VinFast. In addition, the North Carolina factory will operate with a capacity of 150,000 units/year and can also expand production scale according to market demand.

Currently, the company has about 26,000 orders globally and about 10,000 orders in the US, two-thirds of which are pre-orders for the VF 9. Many customers are waiting to receive this model in the US. The US charging station system has been widely developed so far. VinFast can connect to more than 73,000 charging stations in the US.

"The challenge here is to create a product that fits the budget of every customer. Therefore, our mission is to make electric vehicles accessible to everyone. That is why we have launched a full product line from the smallest model like the VF 3 minicar to the VF 9, a full-size, 3-row SUV," said Ms. Le Thi Thu Thuy.

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