In the capricious theatre of the stock market, anomalous tales occasionally unfold. Such is the narrative of VinFast, Vietnam's electric vehicle (EV) arm of conglomerate Vingroup, which saw a dizzying rise in share value following its August 15 listing on the US Nasdaq through a Special Purpose Acquisition Company (SPAC).
The company, which predominantly uses batteries from Samsung SDI, thereby arousing considerable interest in South Korea, began trading at $22 per share. The stock has since experienced a volatile journey, closing at a record high of $82.35 on August 28. This positions VinFast's market capitalisation. . .
