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VinFast's share price 'baffling' for skeptics of Vietnam EV maker

Auto producer that joined Nasdaq via SPAC not yet tested by institutional investors

Vietnam's VinFast enjoyed a stellar market debut on the Nasdaq, but the EV maker faces tough competition for drivers in the U.S. and beyond. (Photo by Lien Hoang)

HO CHI MINH CITY/NEW YORK -- Electric vehicle maker VinFast landed on Nasdaq with soaring share prices that just as quickly plummeted, raising questions about its valuation.

Volatile trading pushed VinFast's market capitalization past those of GM and Boeing this week, then down 44% in a day. Its valuation has been anywhere between $80 billion and $200 billion in the space of a week.

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