TECH - VinFast's Market Cap Skyrockets With 20% Stock Surge Securing Third Position After Tesla And Toyota | Benzinga
Vietnamese EV manufacturer VinFast (NASDAQ:VFS) becomes the third largest automaker by market capitalization globally, following closely those of Tesla (NASDAQ:TSLA) and Toyota (OTC:TOYOF), Nikkei Asia reported.
VinFast’s shares soared 20% in the U.S. market on Monday, pushing its market capitalization to $191.2 billion. Despite its U.S. operations not being fully operational, the EV boom has prompted a buying frenzy among individual investors.
Data from FactSet reveals that, as of Aug. 25, Tesla leads the pack with a market cap of $760 billion, followed by Toyota at $270 billion.
VinFast, established in 2017 and operational in the ...