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VinFast Auto Ltd. (NASDAQ:VFS) slumped in afternoon trading on Tuesday to cut into the gains piled up during a late December rally. Shares of the Vietnamese electric vehicle maker were down 11.53% at 2:27 p.m. on volume of more than 3.6M. Short interest on VFS stands at 23.5% of the total float. The Seeking Alpha Quant Rating on VFS is flashing Strong Sell, while all three Wall Street firms covering the stock are in the bull camp.
Looking ahead, VinFast Auto (VFS) is looking to create some buzz next week at CES. The company plans to introduce its latest electric vehicle concept and the mini eSUV VF 3 to global customers. The launch of two new models were noted to continue to expand VinFast’s (VFS) electric vehicle EV lineup, and said to further solidify its commitment to sustainable mobility and EV accessibility. VinFast (VFS) will also display its all-electric VF 9 full-size SUV at CES, which incorporates a new streaming service into the vehicle. In addition, VinFast (VFS) will introduce its electric bikes, DrgnFly, reinforcing the company’s commitment to offering a holistic EV ecosystem to global customers, as well as showcasing its rapid research and development capabilities since the product was first introduced at CES a year ago. VinFast’s (VFS) electric bikes will also be available for test drives.
VinFast Global Deputy CEO of Sales and Marketing Ms. Tran Mai Hoa” “Our presence at CES 2024 affirms our unwavering commitment to shaping the future of sustainable transportation, and we are excited to showcase the groundbreaking innovations that will further propel us towards this ambitious goal.”
