VinFast drops for 4th session, capitalization down to 75 billion USD

Opening the session on September 1 on the Nasdaq stock exchange (September 1 evening Vietnam time), VinFast Auto shares of billionaire Pham Nhat Vuong continued to fall sharply for the fourth consecutive session to 32 USD/share, losing about 61% compared to the level of 82.35 USD reached in the session on August 28.

Trading of VinFast shares on Nasdaq in recent sessions is no longer as "buoyant" as before.

With VFS shares falling, VinFas' capitalization continued to decline to 75 billion USD, compared to the 190-210 billion USD recorded in the session on August 28.

Billionaire Pham Nhat Vuong's assets also decreased accordingly.

If calculated by VinFast's capitalization, Mr. Vuong still has tens of billions of USD, still ranking first in Southeast Asia.

VinFast shares fell for the fourth consecutive session.

With a capitalization of 75 billion USD, VinFast fell to 6th place, after Tesla (807 billion USD) of billionaire Elon Musk, Toyota (234 billion USD), German supercar maker Porsche (100 billion USD), China's largest electric car maker BYD (96 billion USD) and Mercedes-Benz (77 billion USD).

However, VinFast still has a higher capitalization than the industry giants with a very long history of development such as: General Motors, Ford, Honda, Ferrari, Volkswagen, BMW...

VinFast's capitalization decreased sharply following the decline of VFS shares.

VinFast is a car company founded in 2017 and will officially switch to electric vehicles from 2022. VinFast estimates that it will sell 50,000 electric cars in 2023. Tesla estimates that it can sell 2 million cars this year, while BYD can reach sales of 2.5 million cars.

Domestically, as of August 31, Vietnam still had 6 USD billionaires according to the Forbes list. Following Mr. Vuong is Mr. Tran Dinh Long (Chairman of Hoa Phat Group) with assets of 2.3 billion USD.

VietJet Chairman Nguyen Thi Phuong Thao currently owns assets of 2.1 billion USD. Techcombank Chairman Ho Hung Anh has 1.6 billion USD. Mr. Tran Ba Duong Thaco and his family own assets of 1.5 billion USD. Masan CEO Nguyen Dang Quang has 1.2 billion USD.

VinFast's capitalization drops to $80 billion, billionaire Pham Nhat Vuong awaits new ranking VinFast shares continued to fall sharply for the third session in the August 31 trading session on the US Nasdaq stock exchange. Billionaire Pham Nhat Vuong awaits new ranking after Forbes controversial adjustment.

Source: https://vietnamnet.vn/vinfast-giam-phien-thu-4-von-hoa-xuong-75-ty-usd-2184597.html