Halls of Shrewd'm / US Policy❤
No. of Recommendations: 3
Vinfast just went public via SPAC, another EV wannabe, this one from Viet Nam.
Current price at $28.85
Even Nasdaq doesn't have published data on the number of shares outstanding, but Barron's says the market cap is now over $50bn, more than Ford or GM.
Price target: ...
Jim
No. of Recommendations: 6
Current price $50.31, market cap $118.6bn.
If they were in the S&P 500 that would put them at rank 71.
Just below Amex and Schwab, just above Starbucks and Goldman Sachs.
It's a shame it's not shortable at the moment, and no options yet.
Though I guess those things are not entirely unrelated to the price levitation: no negative feedback loop possible yet.
Jim
No. of Recommendations: 1
350% borrow rate LOL
No. of Recommendations: 1
350% borrow rate LOL
Yeah, but it's conceivable it's actually worth it!
Up 32% today. What is that annualized...?
The borrow is presumably so brutal because the float is under 1% of the stock outstanding.
The float adjusted market cap is "only" $1.1bn.
Jim
No. of Recommendations: 1
There is a new game in town in the past few years: meme stocks. GameStop jumped from $1 to $80 in weeks/months without obvious reason, allowing the company to sell some shares, now it's $16. And the business is still losing money.
No. of Recommendations: 2
Currently at $63.40, up about 30% so far today.
Another day, another $34bn in market cap to around $153 billion.
Just this morning's increase is enough to buy Prudential or Dupont or Bank of New York Mellon, say.
It's quite the spectator sport, but it's sad to think of all the people buying or holding at these levels who are going to lose money.
Jim
No. of Recommendations: 1
I was unable to borrow shares at $70 to sell short but did give it a try. Are single stock futures still a thing? I remember using them on GoPro several years ago when you couldn't get shares to short.
No. of Recommendations: 0
Isn't it some Viet Nam billionaire who owns it? Float is probably negligible compared to the shares he still has in his pocket. Hence, not shortable / easy short squeeze, so no check to price increase.
