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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

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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.


Image: Vinfast