VinFast Auto's stock plunged 80% due to disappointing Q2 loss and concerns over sales growth.
VinFast Auto's stock has plunged nearly 80% over the past year, largely due to disappointing quarterly results. In Q2, the company reported a loss of $0.33 per share on $357 million in sales, falling short of expectations. With aggressive delivery targets and concerns over sales growth, investor confidence is waning. While VinFast aims to expand into the U.S. and Europe, its reliance on related-party sales raises further doubts about its market viability.
September 22, 2024
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