VinFast Stock Soars Again: Is The Vietnamese EV Giant The Next Big Thing Or A Volatile Bet?

Vietnamese electric vehicle maker VinFast Auto Ltd VFS shares continue to rally today after a 40% gain on Friday.

Last week's rally shot up VinFast's valuation to about $160 billion.

Ever since the company debuted on Wall Street this month, it has been gaining in valuation to become the third-most valuable automaker after only Tesla Inc TSLA and Toyota Motor Corp TM, reported Reuters.

The stock is poised to further add nearly $50 billion in market capitalization, according to its performance today.

That said, due to a small availability of publicly traded shares, the stock has shown extreme volatility.

VinFast's founder and Vietnam's richest man, Pham Nhat Vuong, reportedly holds over 99% stake in the company.

Price Action: VFS shares are trading higher by 20.3% at $82.75 on the last check Monday.

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