VinFast Auto Stock Analysis (September 2023)

Vinfast Auto stock. Ticker: VFS Join 10,000 investors: https://www.overlookedalpha.com Vietnamese electric vehicle company VinFast Auto joined the stock market last month via a SPAC and shares soared 800% giving the company a market cap over $200 billion dollars. Shares have quickly reversed but the company still has a steep valuation of roughly 68 billion. That makes VinFast Auto the third largest car company trading in the US, with only Tesla and Toyota ahead of it. But VinFast sold only 7,400 vehicles last year and according to the Financial Times only 137 vehicles have been registered in the US since June. Even if VinFast is able to hit its target of 50,000 in sales this year that still puts it well below other car manufacturers. For comparison, Tesla delivered 1.3 million vehicles last year and Chinese car company Nio delivered 122,000. Not surprisingly, VinFast is also an unprofitable company. Based on figures from the company presentation which have been converted into US dollars, VinFast lost 2.3 billion over the last 12 months with negative free cash flow of almost 3 billion. But 540 million dollars of revenue means the company is valued at a staggering 130 times sales. #overlookedalpha #stocks #stockstosell #stockmarket