VinFast May Drop Fast
No other carmaker has started up with a bigger "thud" before in history. Fair value may be 95% lower at $2.50
Move Fast and Fall Over
Before I get into what farcical operation VinFast is as an automaker, a gentle reminder about its gargantuan valuation (see Figure-1). At its current market cap of $84 billion, VinFast is now the world’s fourth most highly valued carmaker after Tesla, Toyota and BYD. This is despite the automotive press having skewered VinFast’s f…
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