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In 50 Words: VinFast shares soar 255% on Nasdaq debut despite setbacks
Despite negative reviews and operational challenges, Vietnamese automaker VinFast Auto Ltd. saw its shares skyrocket 255% on its debut on the Nasdaq, following a merger with a SPAC. This surge raised the company’s market capitalization above industry leaders like General Motors and Mercedes-Benz and added US$39 billion to the net worth of VinFast chairman Pham Nhat Vuong.
