Following VinGroup’s VIC share price for nearly a month, one can find it interesting to compare the ups and downs in stock prices, with the ups and downs of the media about VinFast. Then people understand why Mr. Pham Nhat Vuong is willing to spend millions of dollars for spectacular performances. However, Mr. Vuong miscalculated a move. Because he didn’t expect that the foreigners would betray to him as he treat them with food and drink but as soon as they left, they would beat him up, one after another, not knowing how to respect him. Really spicy.
In the past few days, when VinFast was praised and lifted to the sky through spectacular PR displays, the price of VIC also increased. But when VinFast was exposed, immediately, the price of VIC also slid along. Let’s go through each timeline to clearly see this ups and downs.
Before the massive launch ceremony of shipping 999 VF8 electric cars to the US took place in Hai Phong, it can be seen that the price of VIC, like other real estate stocks, fluctuated continuously, with green and red colors as well, but the general trend is downward. During this period, VIC’s price bottomed out at VND49,700 on November 8.
On November 24, one day before the export ceremony of VF8, when information about this ceremony spread in the domestic press and social networks with exalted praise, VIC’s price turned upside down and up. On November 24, VIC share price increased by 1.3 points and next day, it increased by 4.40 points. This continuous increase sequence lasted until November 30. During this period, VIC increased from VND60,000 at the beginning of the session on November 24 to VND69,900 at the close of the session on November 30.
After that, on Facebook network began to spread the opinions of some overseas Vietnamese in the US, saying that VinFast would be difficult to sell in the US because it could not buy insurance and did not receive US government incentives like Tesla cars. So the VIC started to oscillate. On December 1, VIC share decreased by 3.6 points, but on December 2, it increased by 2.8 points.
But the fate of VIC is not peaceful, because on December 4, a video was posted on Tom Peng’s Youtube channel about the errors of VF8. This slap caused VIC price to head down and drop 0.7 points on December 5. However, the green and red colors remained intertwined until December 7, and the overall trend of this period is up.
December 7 is the first day VIC returned to over VND70,000 after 5 months, closing the session, VIC reached VND71,200. And December 7 is also the day that VinFast announced its submission to the US Securities and Exchange Commission (SEC), to prepare to issue bonds to the US market.
But right after that, contrary to expectations, on December 8, although the price of VIC sometimes pulled up to VND74,500, it still turned down and continued to decline until December 20. As of December 20, VIC has decreased continuously for 9 sessions, closing the session on December 20 to only VND55,900. Because, at this stage, there were articles in the US analyzing the capital, debt and loss of VinFast. These analyzes show that VinFast’s finances are problematic and difficult to sustain in the US.
But consecutive slaps made VIC knock-out starting on December 13. That day, the American newspaper released two articles exposing VinFast. The article on the dot.LA site by author David Shultz mentions that VinFast sent an email on November 29, to those who have made a deposit to buy a car. The content of this email informs that the VF8 in the first export batch is the City Edition, with a range of 180 miles (290 km), instead of 260-292 miles as advertised. Mr. Shultz asked whether VinFast deceived the person who made a deposit to buy a car or not?
Another article on MotorTrend by Christian Seabaugh. This article asks the question: “180 miles for $55,000: Can the 2023 VinFast VF8 SUV break into the US?” Author Seabaugh said that this price is a “hard pill to swallow” for those who deposit to buy VinFast cars.
Since then, American newspapers have continuously published negative comments about VF8. The heaviest is the article by author Kevin Williams posted on Jalopnik.com about the author’s trip to VinFast’s factory in Hai Phong and visits to other VinGroup facilities. VinGroup’s snobbery has paid its price.
Accompanying the failure of VinFast’s communication is the price of VIC continuously decreasing. On December 19, there was an article on securities website vn.investing.com, “VIC stock fell for the 8th session in a row, capitalization ‘evaporated’ VND56 trillion, losing about 20.6% from the peak of December 8.
Can a person who is very good at tricks like Mr. Pham Nhat Vuong come up with something new to respond to the American media? Will VinGroup let it turn around and get up again? Let’s wait and see the “talent” of the number one billionaire in Vietnam in the near future.
Thoibao.de (Translated)
