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

[Hamartia Antidote]

Certainly something seems shady. Sounds like Kandi again.

Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors – Hindenburg Research

hindenburgresearch.com

Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors​

Terrible Sales Won't Stop VinFast From Building U.S. Factory

VinFast is going ahead with its electric vehicle factory in North Carolina even though no one is buying its cars.

jalopnik.com

AUG 15 2023

Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger

VinFast has so far imported about 2,100 of its EVs to the U.S. from Vietnam, and brought nearly 800 more to Canada.

www.cnbc.com

Vietnamese EV maker VinFast debuts on the Nasdaq after completing SPAC merger​

Shares of Vietnamese electric vehicle maker VinFast began trading on the Nasdaq on Tuesday, following completion of its merger with the U.S.-listed special purpose acquisition company Black Spade Acquisition.

VinFast’s new U.S. shares opened at $22 on Tuesday and rose sharply to end the day at $37.06 for a gain of over 68%. Black Spade Acquisition’s shares closed at $10.45 on Monday.

SPACs are shell companies that raise capital in an IPO and use the cash to merge with a private company in order to take it public, usually within two years.

The deal with Black Spade valued VinFast at approximately $23 billion, according to a June filing with the U.S. Securities and Exchange Commission.

 

[jhungary]

When I say something is a short candidate, it is a short candidate.

I probably would not short VinFast, well, not yet anyway.

The reason why VinFast value that high is because VinFast group have a very deep pocket backing, the last time company like that get overvalued is Tesla when they IPO at 1.7 billion without actually making a car (IIRC they were only making Roadster back then) in 2010, they had that because of Musk and now it's over 180 billion valuation....

I would most likely wait a few year before doing anything with VinFast, see how their portfolio goes, you never know what will happened to company with a lot of cash backing.......

 

[StraightEdge]

It's market cap is already down to 56 billion, lost a third of it's value in less than 2 days. Typical ponzi scheme associated with most startups.

VFS: 24.19 -5.92 (-19.66%) (cnbc.com)

 

[Viet]

It's market cap is already down to 56 billion, lost a third of it's value in less than 2 days. Typical ponzi scheme associated with most startups.

VFS: 24.19 -5.92 (-19.66%) (cnbc.com)

That’s stock market. You win you lose.

 

[StraightEdge]

Cap is down to 46 billion now from high of around 90 billions. I suspect it will go down further.

 

[Skull and Bones]

Cap is down to 46 billion now from high of around 90 billions. I suspect it will go down further.

This will hover at a level of 5-10 billion, see the valuation of Rivian to take a clue.

 

[Bilal9]

If India had Vinfast, I would be trashing it too. What is a trash is a trash irrespective of the country.

Edit: It's already dropping now. As expected someone made good money, someone will lose.

VinFast Stock Is Dropping. The EV Maker's Shares Are Too Expensive. | Barron's (barrons.com)
VinFast stock slumps the day after soaring on its IPO debut (yahoo.com)

Well VinFast made some strategic mistakes. I can say this despite having zero ill will toward Vietnam and her people.

Car business needs solid fundamentals, especially in a competitive market like the US.

I was talking to a Viet friend of mine and he and I both spoke about buying one of the VinFast vehicles.

But where are their dealerships and maintenance infra? Nothing! Zip!

Cars aren't potato chips that you buy on a whim.

This is what I call inexperienced leadership at VinFast.

Koreans have been selling cars since the 1990's in the US. They had to pay a huge price. They are still suffering from the mistakes made thirty years ago in the US market despite having a credible product sell-able to the rest of the world.

 

[Viet]

This will hover at a level of 5-10 billion, see the valuation of Rivian to take a clue.

Lets wait. still early to tell.
Market cap today still more than 40 billion USD.

New ads.

 

[Han Patriot]

I probably would not short VinFast, well, not yet anyway.

The reason why VinFast value that high is because VinFast group have a very deep pocket backing, the last time company like that get overvalued is Tesla when they IPO at 1.7 billion without actually making a car (IIRC they were only making Roadster back then) in 2010, they had that because of Musk and now it's over 180 billion valuation....

I would most likely wait a few year before doing anything with VinFast, see how their portfolio goes, you never know what will happened to company with a lot of cash backing.......

Ok let's bet, i bet vinfast will tank. Lolol

 

[xuxu1457]

Vinfast's shares plunged 43% the next day after soaring 255% to close to $39. Over the next two days, investors kept shorting Vinfast and the stock fell to $12.
When the number of outstanding shares in the market is small, the stock price is easily out of touch with the market, because a few buyers can affect the price of the stock very large fluctuations, the true trend and value of the stock is not stable. This is also an important reason why VinFast is easy to be hyped after the market.
Because only 1% of the company's stock is in circulation, it is very easy to be hyped.VinFast lost $2.1 billion in 2022. In the first quarter of 2023, VinFast reported a net loss of $598 million.

 

[Menthol]

Selling a car is not as simple as just selling a car.

We, as consumers, we also look for service centers and spare parts availability.

Without considering it, we will regret it later despite how good the car is.

 

[CIA Mole]

Selling a car is not as simple as just selling a car.

We, as consumers, we also look for service centers and spare parts availability.

Without considering it, we will regret it later despite how good the car is.

its kinda like that india laptop ban thread

indians think its so ez to make a top laptop manufacturer

 

[Viet]

Vinfast's shares plunged 43% the next day after soaring 255% to close to $39. Over the next two days, investors kept shorting Vinfast and the stock fell to $12.
When the number of outstanding shares in the market is small, the stock price is easily out of touch with the market, because a few buyers can affect the price of the stock very large fluctuations, the true trend and value of the stock is not stable. This is also an important reason why VinFast is easy to be hyped after the market.
Because only 1% of the company's stock is in circulation, it is very easy to be hyped.VinFast lost $2.1 billion in 2022. In the first quarter of 2023, VinFast reported a net loss of $598 million.

That’s not how the stock market works. Valuation bases on past, present and future earnings. Yes certainly based on the number of stocks in circulation. Lets look about the loss.

VF now builds a $4b EV factory in North Carolina. That takes 2 years to complete. So VF books $4n loss in 2y with 0 earning, equals $2b loss in 2023 and $2b loss in 2024. Is that bad? Yes and no. If the company can sell cars in 2025 then everything is great. That’s how the stock investors look at.

About outstanding shares, the number is small, yes, but that’s because the owner of VF is only allowed to sell his stocks after a freeze period.

 

[jhungary]

Ok let's bet, i bet vinfast will tank. Lolol

You do know what is a stock market, right? I wonder what "shorting" a stock is.........

Why not just short Vinfast if you want a bet? Just don't come to me when you have problem getting money to pay off your short, you've been warned.

 

[Viet]

You do know what is a stock market, right? I wonder what "shorting" a stock is.........

Why not just short Vinfast if you want a bet? Just don't come to me when you have problem getting money to pay off your short, you've been warned.

Short is a very risky bet. winner takes it all, loser can lose everything, house, car, wife. So everyone is welcome.