What goes up must come down. This phrase coined by Sir Isaac Newton may be true for the Universal Law of Gravity, but is it also a lesson we can learn in the world of finance?
VinFast, a Singapore-based multinational automotive company under the umbrella of Vingroup, has witnessed an astounding 800% surge in a short span of time, only to fall back to its original value in a few days.
Source: Trading View
This is the sobering truth of the stock market.
What happened to VinFast?
Shares of Vietnamese electric vehicle (EV) maker VinFast Auto have soared after their initial public offering (IPO). In fact, the stock nearly quadrupled at one point and has traded as high as $93 per share.
However, the current price is now $15.75, a stark difference from its highest point. It is almost back to the starting point before the surge....