To The Moon

1. $VinFast Auto(VFS)$ astonishing 109% price surge fuels investor interest and capital raising considerations

VinFast, the Vietnamese electric vehicle maker that recently debuted on Wall Street, continued its impressive rally on Tuesday. The stock more than doubled in price, soaring by 109% to close at $36.7.

This rapid market performance has sparked discussions about VinFast's potential to raise more funds from investors, a move the CEO, Thuy Le, acknowledged the company was considering.

Last week, VinFast's shares had surged over 250% during its debut on the Nasdaq, making it worth more than significantly larger automakers, at least in terms of market valuation. The company's current valuation stands at over $85 billion, placing it well above industry giants such as Volkswagen and Ford, despite its relatively low production volume.

However, public trading of VinFast remains based on thin volumes, with just 1% of the shares available, making price movements highly volatile. The remaining 99% of shares are controlled by the company's founder, Pham Nhat Vuong, who is also Vietnam's richest individual.

 2. $AMTD Digital Inc.(HKD)$ took a 27% ride on $30 mln repurchase

This surge was driven by the company's announcement of a new share repurchase program, which resulted in a strong double-digit return for HKD stock. However, there are larger questions surrounding the nature of the enterprise.

According to the company's press release, AMTD Digital plans to repurchase up to $30 million of its American depositary shares or ordinary shares by December 29, 2023. The repurchases may occur through various means, including open market purchases at prevailing prices, privately negotiated transactions, and block trades.

Despite the recent surge in HKD stock, there remains skepticism about the company. Looking at a longer time frame reveals a less favorable performance, with shares declining around 13% over the past six months and approximately 27% since the beginning of the year.

3. $Dick's Sporting Goods(DKS)$ plunged 24.15% after it reports 23% profit drop and cuts earnings outlook

Dick's shares closed 24% lower following the announcement. The company attributed a significant drop in its quarterly profits to an increase in “organized retail crime”.

Dick's Sporting Goods has reported a significant decline in profits and has revised its earnings outlook for the year due to an increase in retail theft and slow sales in its outdoor category.

This is the first time in nearly 20 years that the athletic goods retailer has mentioned "shrink," which refers to inventory losses due to theft or internal issues, in a press release.

In its second fiscal quarter, Dick's reported a net income of $244 million, or $2.82 per share, compared to $318.5 million, or $3.25 per share, in the same period the previous year. While sales increased to $3.22 billion from $3.11 billion a year earlier, the company fell short of Wall Street's estimates on both earnings per share and revenue.

EPS: $2.82 vs. $3.81 expected

Revenue: $3.22 billion vs. $3.24 billion expected

As a result of these challenges, Dick's has lowered its profit forecast for the year. Dick’s now expects earnings of $11.33 to $12.13 per share for the year, compared with previously issued guidance of $12.90 to $13.80.