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Share Facebook Twitter LinkedIn Pinterest Email Google News' now to get latest article notification text size A woman stands next to a display during the launch of Vinfant in Hanoi on July 7. Nhac Nguyen/AFP via Getty Images Share of Vietnam EV startup VinFast Auto It dropped again, but there’s no specific news to explain the move. When the stock finally calms down after the recent wild swings, it will be time for investors to think about what’s next for the company and the stock. VinFast (ticker: VFS ) stock closed up nearly 27 percent Thursday, below $18 a share. S&P 500 And Nasdaq Composite They decreased by 0.3% and 0.9% respectively. Stocks fell for seven straight days, a slide that wiped out $150 billion in market value. Shares were around $10 in early August. It didn’t take major news to send the price from there to $93: All that happened was that the company completed its merger with the Special Purpose Acquisition Company on August 10. The stock symbol was changed to “VFS” on August 15. Those unexplained swings are no problem for some people in the market. Traders are drawn to volatility and VinFast stock has volatility in spades. Shares have moved up or down an average of 40% since the stock ticker changed. But eventually, investors will start valuing the stock on a fundamental basis, which will not be an easy task. Prices for EV starters vary greatly. Including debt, VinFast is trading at about 22 times its 2023 potential sales. Lucid (LCID) is sold for 14 times Rivian Automotive (RIVN) changes hands about four times. None of these startups are profitable yet, but they have the potential to produce hundreds of thousands of vehicles each year. So far, Wall Street has done little to gauge its outlook for the year ahead and beyond. No analyst covers the stock. Some broker levels can be reached any day. It took five or six weeks Lucid To lift after completing the first step SPAC merger. How Wall Street feels about the company is anyone’s guess. Stock charts aren’t much help either. “It’s a wild chart,” says Captesis founder and market technician Frank Cappelli. Techniques are of little use in such situations. Capelli looks at charts and averages to understand what investors are thinking and when a stock might be attractive or not worth it. The history of VinFast stock does not tell the story yet because before August, the shares did not get much attention. The stock reflected the cash value of the SPAC merged with VinFast. In a few months, analysts will likely weigh in and the chart will have more meaningful information, meaning the stock could trade wildly. But at this point, no one should speak more than they “can.” Write to Al Root at [email protected]
650,000 Americans Over 80 Are Still Working — Here Are 2 Passive Income Strategies If You Don’t Want To Join The Silver Workforce
Charlie Munger invested nearly $90 million of his family fortune with Li Lu. The ‘Chinese Warren Buffett’ has turned it into about $400 million.