At the opening of the September 20 session on Nasdaq, or September 20 Vietnam time, VinFast Auto shares (VFS) were at $17-18 per share. After days of decline, the shares  had become stable again despite low liquidity.

As of 6.20pm September 20 Vietnam time, the VFS price had fallen by 0.28 percent to $17.75 per share. 

The capitalization of VinFast Auto, owned by dollar billionaire Pham Nhat Vuong, was still at $41 billion.

In the last nine trading sessions, VFS has been hovering around $16-18 per share, and only 2-4 million shares were traded each session instead of the 10-15 million, or even 19 million per session, on the busy days before.

This was the VFS’s lowest price compared with the unexpectedly high prices on August 15, the day VinFast made its debut on Nasdaq. The closing price of the first trading session was $37 per share, and the price reached $93 per share on August 28. At that time, VinFast’s capitalization climbed to $210 billion.

With the stable capitalization values in recent days, VinFast ranks above Li Auto, the Chinese automaker, and the 13th among the world’s automobile manufacturers.

The electric vehicle manufacturer with the highest capitalization is Tesla of billionaire Elon Musk ($848 billion), followed by the Chinese BYD ($96 billion). Li Auto, another Chinese manufacturer, has the capitalization of $38.6 billion.

The official commercial version of VinFast VF6 is scheduled in late September.

In her recent introduction about VinFast, CEO Le Thi Thu Thuy said VinFast is an electric vehicle manufacturer with a wide range of products in many market segments. She stressed that not many companies have such a wide range of products and VinFast will exploit the advantage to compete with its rivals.

To date, VinFast has had six electronic automobile models in different market segments. After launching VFe34, it has also marketed VF8, VF9 and VF5. Of these, VF9 is the SUV model of the E segment, the highest segment of VinFast’s product lines.

It is planning to launch VF6, a B-class SUV, which will compete directly with KIA Seltos and Hyundai Creta.

Securities investors are eager to know information about VinFast’s sales in the first nine months of the year, including sales of VF8 and VF9 in the US and Canada. They will also be available in Europe soon.

Manh Ha