REUTERS/Mike Blake/File Photo Acquire Licensing RightsAug 22 (Reuters) - VinFast's shares more than doubled on 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% 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 was the second highest on trading website Stocktwits "Trending" list on Tuesday, suggesting it has attracted the interest of individual investors.
About $428 million worth of VinFast's shares had been traded as of mid-day, compared to Tesla's (TSLA.O) turnover of over $17 billion.
Persons:
Mike Blake, Black, Pham Nhat Vuong, Noel Randewich, David Evans
Organizations:
Los Angeles Auto, REUTERS, Reuters, Korea's Star, Hyundai, SGI, Thomson
Locations:
Los Angeles , California, U.S, Vietnam