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The Vietnamese automaker's stock soared to a $190 billion market cap before crashing 50% this week. It doesn't make much sense.
VinFast Auto (VFS -9.14%) has been stealing the show these past few weeks. The company was worth close to $190 billion at the start of the week, making it the third-most valuable carmaker in the world. Since Monday, the stock is down 50%, and more pain might be on the horizon. In this video, I explain why this stock has soared, why it is crashing, and why I'm not touching it (yet).
*Stock prices used were from the trading day of Aug. 29, 2023. The video was published on Aug. 30, 2023.
Neil Rozenbaum has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
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