VinFast stock soared in its debut as a public company on Nasdaq, with its market capitalization exceeding that of GM and Ford as traders flipped VFS shares.
worth more than Volkswagen , BMW , and more than Ford and Rivian combined on paper in terms of market capitalization. However, VinFast is lagging BYD's market value of $94.3 billion and cannot compare with Tesla's $730 billion market cap.
Since VinFast is a low-float company, it has a small number of shares available for trading, with just 1.3 million shares of the SPAC remaining after redemptions. This means the stock's move and value are volatile., controls about 99 percent of the company, partly via shares held by his wife and Vingroup JSC. As a result, the vast majority of shares are unavailable to investors, so very few people stood to gain from Tuesday's rally.
In addition, companies that merge with blank check firms typically experience rallies that die down a few trading sessions after a deal closes.data shows that de-SPACs that debuted this year have seen a median slump of about 45 percent, with 18 percent of them losing more than 70 percent of their value.
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