$10 Doesn't Buy Much These Days, But It'll Get You 3 Shares Of Vinfast With Some Change Left Over

Considering how bad our first experience with the VinFast VF8 was, it didn’t seem like the best idea for VinFast to go public. Then again, no one at Jalopnik is an investment expert, so maybe someone smarter was giving better advice we just couldn’t understand. Right out of the gate, it looked like we couldn’t possibly have been more wrong, with the stock price shooting up to $82.35 a share. Today, VinFast’s stock isn’t even trading at $3 a share.

At its peak, the new electric car company was valued at more than $85 billion, making it the fourth most valuable automaker in the world, behind only Tesla, Toyota and BYD. Except, unlike those three companies, VinFast barely sells any cars to actual customers. Vingroup founder Pham Nhat Vuong also retained control of more than 99 percent of VinFast’s stock, leaving only 0.3 percent of total shares for others to trade.