VinFast earns an additional 24 billion USD every day
In the weekend trading session on August 25 (US time), VinFast shares (VFS) of billionaire Pham Nhat Vuong continued to shock by closing at a new record high price: 68.77 USD/share (equivalent to a capitalization of nearly 160 billion USD), with more than 12.9 million units traded. During the session, VFS reached 72.5 USD/share at one point, equivalent to a company value of 170 billion USD.
Thus, VinFast shares increased all 5 sessions last week, with an increase of more than 346% (nearly 4.5 times). VFS shares price jumped from 15.4 USD at the end of last week to 68.77 USD/share. This is a "stormy" increase in public opinion in the international market.
Last week, VinFast shares made their debut on Nasdaq (August 15), closing at over $37/share (equivalent to a capitalization of $85 billion), a figure that VinFast's leaders themselves admitted was "surprising". VinFast shares then fell sharply for three consecutive sessions, at one point falling to nearly $13/share.
However, entering the new trading week (August 21-25), VinFast shares increased sharply again from the beginning of the week, ending a series of 3 consecutive sessions of decline. Closing the session on August 21 (early morning of August 22, Vietnam time), VinFast shares (VFS) increased by nearly 14.2% to 17.58 USD/share (from 15.4 USD/share). VinFast's capitalization reached more than 40 billion USD.
In the trading session on August 22 (US time), VinFast shares continued to surprise with a nearly double jump to 36.72 USD/share. During the session, VFS shares broke the 40 USD threshold.
The trading session on August 23 continued to record an increase in the price of VinFast (VFS) shares, with VFS closing at a new record high: 37.03 USD/share.
By the trading session on August 24, VinFast shares caused a shock by closing at a new record high price: 49 USD/share, with more than 8 million shares traded. During the session, VFS reached 58 USD/share at one point, equivalent to a company value of more than 130 billion USD.
In the weekend session on August 25, domestic and foreign investors were truly stunned when VinFast shares (VFS) of billionaire Pham Nhat Vuong closed at a new record high price: 68.77 USD/share (equivalent to VinFast having a capitalization of nearly 160 billion USD), with more than 12.9 million units traded.
Thus, VinFast shares increased all 5 sessions last week, each day VinFast's average capitalization increased by about 24 billion USD.
Billionaire Vuong's assets fluctuate strongly, ranking organization "confused"
Along with the price increase for 5 consecutive sessions at a speed that few people expected, VinFast shares have helped billionaire Pham Nhat Vuong's assets increase rapidly, reaching 55.8 billion USD at the end of the week on August 25. Mr. Vuong ranked 23rd in the world , 3rd in Asia and 1st in Southeast Asia on Forbes' list of the richest people on the planet.
However, the shocking fluctuations of VinFast shares also confused ranking units such as Forbes and Bloomberg.
In the session on August 21, VinFast shares increased by nearly 14.2% from 15.4 USD/share to 17.58 USD/share, thereby helping billionaire Pham Nhat Vuong's assets (according to Forbes' assessment) increase by 2.2 billion USD to 23.5 billion USD. With this asset, billionaire Pham Nhat Vuong ranked 68th in Forbes' list of the richest people on the planet. Billionaire Pham Nhat Vuong ranked 4th in Southeast Asia, after 3 Indonesian billionaires.
In the trading session on August 22, with a nearly double jump to 36.72 USD/share, VinFast shares continued to increase billionaire Pham Nhat Vuong's assets by 20.3 billion USD to 43.7 billion USD. With this asset, the Vietnamese billionaire ranked 27th on Forbes' list of the richest people on the planet and regained the No. 1 position in Southeast Asia and No. 5 in Asia.
At the end of the trading session on August 23 (US time), VinFast shares (VFS) continued to rise to a new record high of 37.03 USD/share, billionaire Vuong's assets should have increased accordingly. However, after the trading session, Forbes ranked billionaire Pham Nhat Vuong down 18 places to the 45th richest position in the world.
At $37.03/share on August 23, VinFast shares were much higher than the $36.72/share on August 22. However, the ranking dropped from 27 to 45 on Forbes' list.
This is Forbes' second adjustment to Mr. Pham Nhat Vuong since VinFast shares were listed on the US Nasdaq stock exchange.
Previously, in the session on August 16, Forbes had estimated that billionaire Vuong had 84 billion USD and ranked him 16th in the world. However, a few hours later, the magazine adjusted it down to a level quite similar to Bloomberg's assessment, at more than 44 billion USD (equivalent to Mr. Vuong being in the top 30).
In the trading session on August 24, when VinFast shares reached 49 USD/share, VinFast's capitalization skyrocketed to over 110 billion USD, while billionaire Pham Nhat Vuong's assets increased by 8.9 billion USD to 41.1 billion USD and jumped from 45th to 28th richest in the world. Mr. Vuong continues to be the richest person in Southeast Asia.
As of August 25, according to Forbes, Mr. Vuong had 55.8 billion USD, ranking 23rd in the world and 3rd in Asia, just behind Indian oil and retail tycoon Mukesh Ambani (who had 95.9 billion USD, as of August 25) and billionaire Zhong Shanshan, owner of China's largest beverage company Nongfu Spring (who had 60.3 billion USD).
However, Bloomberg has not yet made specific calculations about Mr. Vuong’s assets. Mr. Pham Nhat Vuong’s name is no longer on Bloomberg’s list of billionaires. Before listing VinFast on Nasdaq, Mr. Vuong was estimated by Bloomberg to have had 5-5.9 billion USD.
Surpassing a series of giants, VinFast ranks 3rd in the world's automobile industry
After nearly 2 weeks of trading, this stock has skyrocketed to nearly double its initial price. Thereby, VinFast has set a new capitalization record with a value as of August 25 of nearly 160 billion USD.
At this price, VinFast's capitalization is nearly double that of the famous Chinese electric car giant BYD and far surpasses the famous German supercar brand Porsche. As of August 25, Porsche had a capitalization of nearly 99 billion USD.
VinFast continues to hold the 2nd position in the global electric vehicle industry and becomes the 3rd largest car manufacturer in the world, after Tesla (with a capitalization of 757 billion USD) and Toyota (with 222 billion USD).
Compared to domestic market, VinFast's capitalization is nearly twice the total capitalization of the 10 largest enterprises listed on the Vietnamese stock market and nearly 10 times the enterprise with the largest capitalization, Vietcombank . As of August 25, Vietcombank's capitalization reached VND408 trillion (equivalent to USD16.9 billion).
VinFast shares continued to rise in the context of the company's total free float on the Nasdaq being very low, only 4.5 million units, compared to a total of more than 2.3 billion listed VinFast shares.
VinFast stock trading during sessions on the Nasdaq floor was also low, from only 1.8 million to a maximum of 19 million shares/session.
Stock prices increased sharply last week following information about the ambition of Vietnam's richest billionaire Pham Nhat Vuong, through VinFast CEO Le Thi Thu Thuy's sharing with international media.
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