VinFast Stock Falls for a Second Day In a Row
Shares of electric-vehicle company VinFast fell roughly 20% Thursday, retreating for a second consecutive session.
While Chines EV stocks kept rising
Tweet on EV stocks
@VinFast Stock Keeps Falling!
Shares of EV company VinFast fell roughly 20% Thursday, retreating for a second consecutive session, via @FactSet #VinFast #ev #stocks pic.twitter.com/wmWEN4Wg9N
— The_Journalbiz (@the_journalbiz) August 17, 2023
Factset chart
The Vietnamese car maker debuted on the Nasdaq on Tuesday after merging with a special-acquisition company.
The stock more than tripled in its first day of trading, vaulting VinFast’s market cap to roughly $86 billion before pulling back Wednesday.
In other EV-stock news,
Tesla moved lower following price cuts in China. Chinese EV stocks rose, with the U.S.-listed shares of Nio, XPeng and Li Auto all higher.
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