VinFast's shares more than doubled Tuesday to the highest since Vietnamese electric vehicle maker's blowout Wall Street debut after Reuters reported that South Korea's Star Group Industrial plans to open factory in Vietnam.
In the latest volatile session since its backdoor listing last week, VinFast's stock was last up 127 percent at $40.24, giving it a market capitalization of $95 billion. The stock traded as high as $46.98 earlier in the session. The stock finished up 108.87 percent at $36.72 when the market closed Tuesday.
Last Tuesday, the cash-burning company soared as it started trading on the U.S. stock market with an opening price of $22 following its tie-up with SPAC partner Black Spade Acquisition.