👉 Background: The story starts with a guy called Pham Nat Vuong — who was born in Vietnam. He moved to Ukraine where he created a noodle business that was acquired by Nestle. With his new fortune, he invested in a whole range of assets like property, schools, resorts, and of couse electric vehicles.

👉 What happened: VinFast Auto was launched in 2017 and plans to manufacture up 50,000 EV's this year. This week, it listed on the Nasdaq via a SPAC. And after Day 1, the shares surged 255 per cent making VinFast Auto worth more than Mercedes Benz and General Motors!

👉 What else: Here's the juicy part: Vuong still directly or indirectly controls 99% of the company's outstanding shares. And while other EV companies taken public via SPAC's have lost more than 90% of their market value, this one may be different.

What's the key learning?

💡When only a small amount of a company's shares are available to the public, even a small buy or sell order can significantly impact the share price.

💡In the case of VinFast Auto, if someone wants to buy a share, they may have to offer a higher price to persuade a current shareholder to sell. And the same for selling. This scarcity (ie 1% of shares tradeable) can cause the price to fluctuate wildly.

💡More interestingly, this whoppin' price might not actually reflect the true value of the company if it was actually up for sale. It's likely that the current market price, which has jumped over 255%, may have just been influenced by the scarcity of publicly available shares.

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