Shulou(Shulou.com)11/24 Report--

CTOnews.com August 31 news, the Vietnamese electric car maker VinFast plummeted in two days, the cumulative market value lost $95.4 billion (CTOnews.com Note: currently about 695.466 billion yuan), the current stock market value has fallen below $100 billion (currently about 729 billion yuan).

After inquiry, CTOnews.com learned that the collapse in the car company's shares was mainly due to the influence of short seller Chanos and others. Chanos posted a post on the X platform the day before yesterday, calling VinFast's shares as "$200 billion meme shares" and claiming that retail investors were buying "a stock that an option trader believes will fall by 50 per cent in the next three weeks".

▲ Touyuan Chanos' speech on the X platform was influenced by Chanos and others. VinFast shares fell rapidly, falling 44% the day before yesterday and 11% yesterday, close to Chanos's statement that "the stock is down 50%."

▲ VinFast stock data, source of information from Yahoo Finance

▲ Tu Yuan VinFast official website, according to CTOnews.com, VinFast was founded in 2017 and is one of the subsidiaries of Vingroup Group founded by Pham Nhat Vuong, the richest man in Vietnam. As of June 30, VinFast had delivered nearly 19000 electric vehicles, including VF E34, VF 5, VF 8 and VF 9 models. The company has exported about 2100 electric vehicles from Vietnam to the United States and nearly 800 to Canada.

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