The company's valuation has grown at a much faster rate than other companies in the EV and tech sectors. For example, Tesla took more than 3,600 sessions to reach a $200 billion valuation, while AI company Nvidia took over 7,700. Despite the broader U.S. equity market cooling, VinFast's growth suggests investor interest remains high. The company's stock options also began trading on August 28, offering traders the chance to make leveraged bets on the rally.
Key takeaways:
- VinFast Auto Pte Ltd., a Vietnamese electric vehicle maker, is now worth more than Goldman Sachs Group and Boeing Co., with a valuation just north of $200 billion.
- VinFast shares jumped as much as 29% to $89 on Aug. 28, marking a 558% surge since its market debut on Aug. 15.
- The company's rapid growth has attracted the attention of retail traders targeting EV makers, and options on the stock began trading on Aug. 28.
- VinFast's valuation reached $200 billion in just 10 trading days, a feat that took Tesla Inc. more than 3,600 sessions and Nvidia over 7,700 sessions to achieve.