To The Moon

$VinFast Auto(VFS)$ Shares of Vietnamese electric-vehicle maker Vinfast surged YTD 45.62% its market value to $160 billion. The company made a blowout debut on Wall Street this month and has quickly grown in valuation to become the third-most valuable automaker - only behind Tesla (TSLA.O) and Toyota (7203.T). I did some history and reserch on Vinfast Auto Vinfast is almost entirely controlled by Pham Nhat Vuong, Vietnam's richest man and founder of parent conglomerate Vingroup, with a stake of about 99.7%, according to a filing. Despite the market enthusiasm, Vinfast faces a long road before it can start competing meaningfully with Tesla and legacy automakers that are pouring billions of dollars to grab a share of the EV market. Only 137 Vinfast EVs were registered in the United States through June, according to S&P Global Mobility. The firm is also entering the U.S. and European markets at a time when EV demand is slowing and Tesla has waged a price war to defend its dominance. Vinfast expects to sell as many as 50,000 electric vehicles this year, compared with Tesla's projection to deliver 1.8 million cars. To drive sales, Vinfast is breaking away from the direct-to-consumer approach used by Tesla and turning to dealers. The company is also building a $4 billion factory in North Carolina. Some reporters are comparing VinFast’s fast launch to those of Rivian Others are comparing its market cap to those of other carmakers. But there’s another comparison to be made. VinFast sponsor Black Spade was put together by Lawrence Ho, a Hong Kong investment banker and son of a Chinese casino owner. The early action in the stock is reminding some of last year’s mania for AMTD Digital stock, which jumped to $485 per share after coming public last year. HKD stock is currently trading at about $6/share. While VinFast lists 2.32 billion shares outstanding, its float is just 7.32 million shares. This means the price can be very volatile even when few shares trade. Some brokers, possibly in East Asia, may be taking advantage of this, as they did with AMTD. Some analysts are telling investors to sell VFS stock based on its fundamentals. The company failed to make gas-driven cars in the last decade, and its VF8 got a poor review from Motor Trend. Car and Driver also turned thumbs down on a VF8 they were given to test. After a bumpy ride with its direct-to-consumer model, VinFast is now considering selling through established auto dealers. The excitement over VFS stock has nothing to do with fundamentals and little to do with the cars. It’s yet another case of East Asian stock mania and likely to go the way of the others. Speculators bubble could pop at any moment. Indeed I saw the bubble is popping and would not going into invest in this company at themoment but in my heart there is target buy price which is $10. (IPO Price) @Daily_Discussion @TigerEvents @MillionaireTiger @TigerStars @Tiger_SG