VinFast drops as Q2 operating loss nearly triples

VinFast Auto

Mon 16:07

** US-listed shares of Vietnamese electric-vehicle maker VinFast VFS.O fall 5.5% to $2.95
** Shares set for biggest one-day drop since late July
** Q2 operating loss at VFS nearly tripled to $1.16 billion, compared to a year-ago 
** However, Q2 revenue jumped 85.5% YoY, aided by a one-time restructuring-related gain
** 4 of 5 brokerages rate the stock "buy" or higher, and 1 "hold"; their median PT is $5.75 - LSEG-compiled data
** Including session moves, stock down 11.8% YTD, compared with a 14% increase in the Nasdaq .IXIC index

 (Reporting by Darshan Kumar in Bengaluru)
 ((darshan.kumar@thomsonreuters.com))