Why VinFast Auto Stock Surged Another 53% Today
There's no stopping VinFast Auto (VFS 32.33%) stock. After more than doubling in just the first three days of this week, the electric vehicle (EV) stock, which debuted in the U.S. last week, was up another 53% at 10 a.m. ET this morning. Today's jaw-dropping rally means VinFast stock is already up more than 200% so far this week.
VinFast is already producing EVs, has built a strong presence in Vietnam, and is making aggressive plans to expand internationally. For example, earlier this week, VinFast said it expects to start delivering its new all-electric VF 9 SUV in North America later this year. The VF 9 SUV's U.S. Environmental Protection Agency (EPA) range ratings have surpassed VinFast's own initial estimates.
None of this justifies the excitement that we're seeing in VinFast stock right now. I'll label the hype as the fear of missing out -- investors who couldn't buy into the first round of EV excitement and watched stocks like Tesla boom over the years
$VinFast Auto (VFS.US)$ $Tesla (TSLA.US)$
None of this justifies the excitement that we're seeing in VinFast stock right now. I'll label the hype as the fear of missing out -- investors who couldn't buy into the first round of EV excitement and watched stocks like Tesla boom over the years
$VinFast Auto (VFS.US)$ $Tesla (TSLA.US)$
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