VinFast Nasdaq Debut: VinFast, a fashionable Vietnamese electric car firm, is attracting corporate interest. They’ll be on Nasdaq next week, they said! This significant news excites the trading floor. Vingroup and its merging company’s prices have risen significantly.
Last Friday, Vingroup shares rose 7%. The year’s high was 72,600 Vietnamese dong. The New York stock shares of Black Spade, a corporation that buys other companies, also traded interestingly. SPACs are these firms. Stocks rose 73% to $18.50 last Thursday.
The crucial merger of Hong Kong-based Black Spade (BSAQ.A) was completed well. All shareholders agreed on Thursday. This great arrangement legalized VinFast and Black Spade’s cooperation, pleasing everyone.
VinFast and Black Spade made an impact. VinFast will trade on Nasdaq as VFS. It’ll happen around August 15. Something important happened before the July market dance. Many SPAC shareholders sold before the merger. It was significant that almost 80% of owners did this.
Now, VinFast’s goals. They’re not simply generating moneythey’re growing their business. Each step is planned, like dancing. Pham Nhat Vuong, VinFast’s founder, strongly supports a U.S. listing. It will help VinFast grow in the U.S. VinFast’s story is improving! North Carolina is building a massive automotive plant. It will be in gorgeous nature.
VinFast’s valuation dance revealed a $23 billion value. Two key figures made this happen. Rivian and Lucid, electric car firms, are worth this much. Lucid is worth $16 billion, Rivian $21 billion.
After joining, cool happened. VinFast merged with another company, and its owners now own most of it. Pham Nhat Vuong’s affluent Vingroup runs this car firm. They collectively own most of this new corporation.
In this market report, VinFast leader Thuy Le stated today’s vote proves consumers believe in VinFast. Black Spade’s owners are symphonically supporting VinFast’s growth.
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After the curtain rises, VinFast’s history and public relations are recounted. In December, Nasdaq listed the automaker. A big step. It may change everything. The wedding dance with Black Spade seemed to take precedence. It was shrewd.
Faraday Future, Nikola Corp, and Lucid are cool electric car firms. They entered the market via SPACs. As more people attended the market auditorium, investors and officials paid closer attention to these shows. Careful thinking began.
VinFast displayed their beautiful electric automobiles. They exported 3,000 from Vietnam to the U.S. They did something awesome. March’s VF8 EVs played the opera’s first notes. VinFast’s music was loud and forceful, but the band’s silence concerning U.S. sales left everyone wondering.
According to a recent S&P Global Mobility report, 137 VinFast EVs were sold in the U.S. from January to June. VinFast’s finances could have started better. Their revenue was 49% lower than last year. This serious money song recorded a $598 million loss. A lot of money was lost in 2022. Losing $2.1 billion hurts. This section doesn’t discuss making money.
In May, VinFast and Vingroup CEO Vuong gave a lyrical forecast. It predicted 50,000 electrified cars this year. By 2024, electric and other vehicles may be equivalent. But there’s this big drama, and it’s all tangled up with stuck businesspeople. Elon Musk’s Tesla is cool. Cool electric automobiles are improved and made cheaper by them. It’s a concert of bargains and new cars.
Lawrence Ho invests well in this story. Stanley Ho, his father, is a world-renowned player. Lawrence’s life jumps around. Money and vehicles drive this plot. How they fit and change is essential. As this portion closes, we can only imagine what fascinating things these corporate leaders will perform next on the vast Nasdaq stage.
Our Reader’s Queries
When did VinFast join Nasdaq?
VinFast Auto’s stock made its debut on the Nasdaq Stock Market on August 15th, following the company’s public offering through a special purpose acquisition company. In the short span of four days, the stock has already surged by over 200%.
Did VinFast go public?
VinFast, the electric vehicle startup, recently achieved a post-IPO high after going public on August 15th through a blank-check merger deal, also known as a SPAC merger.
Did VinFast stock plunge after EV maker’s blockbuster Nasdaq debut?
VinFast Auto, the electric-vehicle manufacturer, has experienced a significant drop of over 20% in its share prices, following its first trading session on the Nasdaq. This comes after the company’s shares had more than tripled during their market debut on Tuesday.
Should you invest in VinFast?
Investors should exercise caution before investing in VinFast, despite its potential to outpace EV competitors who only sell directly to consumers. This young automaker needs to prove itself in the market before committing investment capital. It’s wise to wait and watch VinFast’s performance throughout 2024 before making any investment decisions.