The Digital Source For China's Tech Innovation Since 2000

Search
Close this search box.

Vietnamese EV maker VinFast fails to cement meme stock status as eye-popping rally fades quickly

September 2, 2023
Source: cnbc.com cnbc.com
News Snapshot:
Frantic trading in VinFast has raised eyebrows, but it's still far from becoming a meme stock. The rally in the Vietnamese electric vehicle maker was once so furious that its market cap briefly surpassed some of the world's largest automakers such as Ford and GM . The stock had gone up almost 700% since it went public via a SPAC in mid-August, briefly touching a whopping $85 billion market capitalization. However, it was easy come, easy go. After a head-scratching six-day winning streak, VinFast has lost 60% this week, cutting its gains since its market debut to about 170%. There...
Go To Original Source →
Tags: acquisition | capital | cash | chat | chat room | Chinese | CNBC | data | digital | electric vehicle | EV | fintech | Ford | game | Hong Kong | initial public offering | ipo | IT | KONG | merger | nasdaq | news | NIO | president | profit

Other Related News:

Xiaomi 14 Ultra details leaked ahead of launch Details here

December 3, 2023

Science news this week: Atmospheric holes and smarter glasses

December 3, 2023

Dublin riots drag row over facial recognition technology back into spotlight

December 3, 2023

Watch this space: Humans want to go to the Moon again and never leave

December 3, 2023

This week in EVs: Tesla holds Cybertruck launch event

December 3, 2023

The biggest risk that could set off China-US conflict: ex-army chief

December 3, 2023

Behind the $2b bet against the ASX’s favourite lithium stock

December 3, 2023

Tesla releases the Cybertruck, Sam Altman officially returns to OpenAI, and Evernote cripples its free plan

December 3, 2023

J&J Hired Thousands of Data Scientists. Will The Strategy Pay Off?

December 3, 2023
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter