Wednesday

Strong

Gains

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<p class="has-drop-cap">VinFast’s shares rose over 4% to $9.30 after the automaker reported better-than-expected <a aria-label="Q3 deliveries and revenue (opens in a new tab)" href="https://vingroup.widen.net/s/xs7kxdrz5m/540165_003_cl_1650" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Q3 deliveries and revenue</a>. However, the company lost most of those gains shortly afterward as the volatility surrounding the stock continued, and the stock stood at $8.18, up 1.6% from yesterday.</p>
<h3 id="vinfast-jumps-on-strong-q3-report-but-retraces-gains-as-volatility-continues">VinFast Jumps on Strong Q3 Report But Retraces Gains as Volatility Continues</h3>
<p>VinFast’s wild stock market ride continued on Thursday after shares of the electric vehicle (EV) maker jumped to $9.30 before seeing a sharp retracement to $8.40 in less than an hour.</p>
<p>However, the initial surge wasn’t unprovoked. VinFast published its Q3 financial results today, showing strong revenue growth and delivery numbers.</p>
<p>In particular, the company bagged $342.6 million in revenue in the third quarter, representing a robust increase of 159.3% year-over-year and 3.8% compared to the previous three-month period. Moreover, VinFast’s deliveries rose by 5.2% quarter-over-quarter to 10,027 units in Q3 amid solid demand in North America.</p>
<p>This marks a rocketing increase from last year when the carmaker delivered just 153 vehicles. In addition, VinFast’s e-scooter deliveries rose to 28,220 units in the last quarter, up 112.9% from Q3 2022.&nbsp;</p>
<p>Going forward, the Vietnamese EV manufacturer expects to keep its momentum, maintaining its full-year delivery target of 40,000 to 50,000 cars.&nbsp;</p>
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<h3 id="vinfast-shares-moved-over-10-up-or-down-in-past-36-sessions">VinFast Shares Moved Over 10% Up or Down in Past 36 Sessions</h3>
<p>Meanwhile, for those who have been trading VinFast’s shares, the experience has been everything but calm and quiet.</p>
<p>Over the past month, the EV stock fell nearly 70%, registering several big ups and downs. During that period, the company’s shares oscillated in a significant trading range between $28.27 and $8 per share.&nbsp;</p>
<p>This rollercoaster ride has become particularly apparent since the company changed its stock symbol to “VFS” after completing its SPAC merger in mid-August. In the days after the merger, VFS soared as high as $93 per share, losing nearly all those gains since. The stock <a aria-label="jumped or plunged (opens in a new tab)" href="https://www.barrons.com/articles/vinfast-stock-volatility-rivian-evs-2820087b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">jumped or plunged</a> more than 10% in 20 of the 36 trading days after the merger.&nbsp;</p>
<p>In the meantime, VinFast’s rival Rivian registered a much more stable and <a href="https://tokenist.com/tesla-rivian-soar-as-deliveries-higher-than-estimated-for-q2/" rel="noopener noreferrer nofollow" class="deco-link">rewarding stock market performance</a>, rising more than 33% in the past 6 months. The stock rose 9% on Wednesday on a strong delivery report, although it is down 17% in today’s session following a <a href="https://tokenist.com/rivian-down-9-as-ev-maker-announces-1-5b-convertible-bond-sale/" rel="noopener noreferrer nofollow" class="deco-link">convertible bonds sale announcement</a>.&nbsp;</p>
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<p><em><strong>What is causing such high volatility in VinFast shares even though the company registers strong sales and vehicle delivery growth? Let us know in the comments below.&nbsp;</strong></em></p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/vinfast-up-1-6-on-q3-deliveries-stock-swings-continue/">VinFast Up 1.6% on Q3 Deliveries, Stock Swings Continue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

VinFast Up 1.6% on Q3 Deliveries, Stock Swings Continue

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