VinFast Auto (NASDAQ:VFSWW) Trading Up 2.9% – Here’s What Happened

VinFast Auto Ltd. (NASDAQ:VFSWW) shot up 2.9% on Monday . The stock traded as high as $0.3798 and last traded at $0.3601. 118 shares changed hands during trading, a decline of 99% from the average session volume of 16,255 shares. The stock had previously closed at $0.3501.

VinFast Auto Stock Performance

The company has a fifty day moving average of $0.35 and a two-hundred day moving average of $0.23.

Institutional Investors Weigh In On VinFast Auto

A hedge fund recently raised its stake in VinFast Auto stock. Wolverine Asset Management LLC boosted its position in shares of VinFast Auto Ltd. (NASDAQ:VFSWW) by 100.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 167,476 shares of the company’s stock after purchasing an additional 84,081 shares during the period. Wolverine Asset Management LLC’s holdings in VinFast Auto were worth $35,000 as of its most recent SEC filing.

About VinFast Auto

VinFast Auto Pte. Ltd., a subsidiary of Vietnam’s Vingroup JSC, is the nation’s first major automotive manufacturer and a rapidly growing player in the global electric vehicle (EV) market. Founded in 2017 and headquartered in Hai Phong, Vietnam, the company was established with the ambition of designing, developing and producing passenger vehicles that meet international quality and safety standards. VinFast has leveraged Vingroup’s financial and industrial backing to bring its first models to market within a remarkably short timeframe, positioning itself as a pioneer among new-generation EV brands.

The company’s core business revolves around the design, engineering, production and sale of EVs, including sport utility vehicles and electric buses.