Company is overleveraged with negative equity, poor profitability with gross margins of -50%, terrible liquidity with a quick ratio of 0.128.
2024Q1 results show y-o-y increase, but don't let that distract you from the fact that it's still worst that 2023Q4.
Let's also not ignore the fact that 72% of car sales in 2023 is to Green SM, a subsidiary to VinGroup and founded by the same founder of VinFast. And despite that, they still missed their target of 40,000 cars
VF8 (one of their flagship model) reviews are also terrible and is often regarded as one of the worst cars in 2023.
I have no idea how Vinfast has such an inflated valuation.
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Vinfast is destined to suffer the same fate as Evergrande, a start-up electric vehicle in China.
This company is too overvalued.About to bankrupt.
This stock is too overvalued.About to bankrupt.