We all knew it was going to happen and just a few days after VinFast’s share price soared so high that it was the world’s third most valuable car manufacturer with a value of $200 billion, the company’s stock price has come crashing down.
Shortly after the Vietnamese company went public in the U.S., its share prices soared well beyond the opening price of $22 per share, reaching as high as $93 in intraday trading earlier this week. However, prices fell by some 44% on Tuesday, slashing the company’s value by more than $90 billion. This also means that the wealth of VinFast founder Pham Nhat Vuong dropped by $67 billion.
Read Article