Renowned short seller Jim Chanos expressed concerns over the soaring $200 billion market capitalization of Vietnamese EV maker VinFast Auto (NASDAQ:VFS), terming it a ‘$200B meme-stock’.
What Happened: In a recent post, Chanos (under the alias “Diogenes” on X/Twitter) pointed out the disparity between VinFast’s surging market cap and its vehicle production. He cited a comment by Drew Dickson, founder of Albert Bridge Capital, stating that while VinFast might be lucky to produce 40K units this year, Toyota could achieve the same in just 40 hours.
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