Vinfast has barely sold 25,000 units of its electric vehicles worldwide in 2022. Yet, the EV startup has seen its value soar after it made its listing debut at Nasdaq on August 15.
The last time a stock with a tiny free float rose from relative obscurity to the ranks of the worlds largest companies, it didnt end well. AMTD Digital Inc., another US-listed company with roots in Asia, soared more than 32,000% in the span of a few weeks. AMTD has since tumbled more than 99%, hitting a record low last week. Its valuation now stands at a humble $1.2 billion.
How a Small EV Maker Became More Valuable Than Ford and GM Combined bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
International Business News: An unprofitable electric vehicle maker has suddenly become the third most valuable auto manufacturer in the world, leaving the likes of General Motors