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VinFast: Vietnam EV maker valued at more than Ford or GM

I bought 15 shares at 60 for fun. To my surprise it went to 71 now at friday close. Jumped from 20 to 70 and will probably go higher because CEO owns 99% of the float.
Congrats
You make profit if you sell now.
Share up 30 percent in Europe stock tradings
$86
 
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Crazy
Share hits the roof. Very volatile.
Market cap at some point over $200 billion.

 
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$200 billion market cap is taken surpassing BYD by wide margin.


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$200 billion market cap is taken surpassing BYD by wide margin.


View attachment 949388

$200 billion market cap is taken surpassing BYD by wide margin.


View attachment 949388

owner is technically 3rd richest person in the world now
 
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owner is technically 3rd richest person in the world now
He is the richest man in Vietnam. And now on paper yes his money coffers increased by $200 billion. But he can’t sell the shares yet. Not bad for someone who started an instant noodle business in Kharkiv, Ukraine. His father served in the Vietnamese army, the mother has a tea shop.
 
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He is the richest man in Vietnam. And now on paper yes his money coffers increased by $200 billion. But he can’t sell the shares yet. Not bad for someone who started an instant noodle business in Kharkiv, Ukraine. His father served in the Vietnamese army, the mother has a tea shop.
He should sell some now and make a quick buck.
 
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almost full circle

couldnt rly get in on this cuz option’s premium was 80% of underlying share price
 
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VinFast is a classic case of extremely low float. 99.7% of the shares are controlled by the directors/promoters themselves.

Screenshot 2023-08-30 at 9.43.08 PM.png


Out of 2.32 billion shares, only mere 7.2 million are available for public trade. I don't know how did it get past the regulators. In India we have laws that restrict promoters to have a public float of minimum 25%. This is just a classic case of momentum buying. Bloomberg gave a very good example - AMTD digital. It lost 99% of market cap after such a surge due to low float.
 
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Yeah, with none of the technology. Vinfast is a scam with nothing to show for.
What technology has Tesla to justify its valuation? The giga press comes from Idra. The driving software comes from India. Battery comes from elsewhere. Factory from US, Germany, China, employees from different countries. Tesla just puts everything together.

VinFast is a classic case of extremely low float. 99.7% of the shares are controlled by the directors/promoters themselves.

View attachment 949809

Out of 2.32 billion shares, only mere 7.2 million are available for public trade. I don't know how did it get past the regulators. In India we have laws that restrict promoters to have a public float of minimum 25%. This is just a classic case of momentum buying. Bloomberg gave a very good example - AMTD digital. It lost 99% of market cap after such a surge due to low float.
If I am not wrong Nasdaq listing does not require a minimum floating shares.
 
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