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VinFast’s Meteoric Nasdaq Rise Stirs Investor Concern Over Valuation

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. . .

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