Vinfast worth as much as Ford+GM

[ValueArb]

Viet­nam’s Vin­Fast Auto be­came the lat­est elec­tric-car startup to cap­ti­vate Wall Street with a stock rally Tues­day that pushed its mar­ket value ahead of in­dus­try stal­warts Gen­eral Mo­tors and Ford Mo­tor.

 

Shares of Vin­Fast have since re­treated, down about 20% mid­day Wednes­day, a day af­ter the com­pany be­gan trad­ing on the Nas­daq. That came af­ter a sur­pris­ing surge on the first day of its list­ing, in which shares more than tripled, giv­ing the com­pany a mar­ket value of roughly $86 bil­lion, Re­fini­tiv data shows.

 

 

https://www.wsj.com/articles/ev-startup-vinfasts-stock-rally-pushes-value-higher-than-gm-ford-c9dac0e6

Edited August 16, 2023 by ValueArb

[aws]

Did we take a time machine back to 2021? I thought the days of SPACs and random tiny EV companies hitting $50b+ valuations were behind us.

[Saluki]

Revson, the founder of Revlon used to say "we don't sell lipstick, we sell dreams" and "our stores don't sell perfume. Our factories make perfume, our stores sell hope." 

 

These crazy SPACs and IPOs are just selling people what they buy when they buy lottery tickets. A way to snap your fingers and get rich.

[thowed]

Lots of nonsense here - for starters the float is tiny as almost all the shares are owned by 'Vietnam's richest man' who has a big Vietnam-listed conglomerate.  Finance people I know in Vietnam aren't massive fans of the other businesses.

 

But a great headline for the Summer Silly Season

[jks327]

Proof that market inefficiencies exist!