After 10 days listed on Nasdaq,VinFast stock reached a peak of $93, leading VinFast’s market capitalization rising up to $200 billion threshold, closely trailing Toyota in the global automotive market. Following a period of outstanding growth, VinFast’s market capitalization now exceeds that of more than half of the companies listed in the Dow Jones Industrial Average.
In the beginning of this week (August 28th), VinFast’s stocks were observed trading steadily at $80 per share and closed at $82.35 per share, equivalent to a market capitalization of $190 billion. This signifies an increase of nearly 20% compared to the previous week and an astonishing growth of 688% since its market debut.
The highest stock price during the initial trading session of the week reached $93 per share, bringing the market capitalization to around $215 billion, almost on par of the giant Toyota. If VinFast Stock continues to maintain this upward momentum, there’s a potential for the company to surpass Toyota and secure the second position. This achievement is truly remarkable for a very new brand like VinFast.
Surpassing the $200 billion milestone places VinFast among the ranks of the world’s leading companies. It surpasses more than half of the companies listed in the Dow Jones Industrial Average and even outpaces the scale of Walgreens Boots Alliance Inc by a factor of 10. Currently, VinFast holds a market capitalization higher than that of Goldman Sachs at $111 billion and Boeing at $137 billion. This underscores VinFast’s strength and the market’s confidence in the company’s future prospects.
While a high valuation is no longer uncommon for technology-driven companies, VinFast achieving the $200 billion market capitalization milestone within just 10 trading sessions is an impressive outcome laden with significant influence. Comparatively, in the electric vehicle industry, Tesla required around 3600 trading sessions to achieve such an astonishing milestone. This growth not only attracts the attention of global investors but also unveils entirely new possibilities for the Vietnamese automotive and technology markets.
The surpassing of the $200 billion market capitalization threshold by VinFast serves as evidence of the breakthrough and magnitude of Vietnamese businesses in the fields of technology and automobile manufacturing. This not only propels VinFast’s development but also the entire Vietnamese industrial sector in an era of globalization and intense competition. We are witnessing a new success story that opens up numerous prospects and opportunities for the future.
