VinFast Stock Rises As EV Deliveries Soar, Retail Sentiment Turns 'Extremely Bullish'

VinFast Auto Ltd.'s (VFS) shares rose over 1% Friday morning as retail traders cheered the EV maker's latest delivery figures.

On Thursday, the company reported 53,139 global EV deliveries for the fourth quarter, marking a 143% jump from Q3 and a 342% surge from a year earlier. 

For 2024, total deliveries hit 97,399, a 192% increase from the prior year, exceeding its revised target of 80,000.

VinFast said it now aims to at least double deliveries in 2025.

On Stocktwits, sentiment climbed into the 'extremely bullish' zone amid elevated message volume. 

Many posts this week expressed hopes for a near-term rally in the stock.

The Vietnamese automaker noted it delivered over 10,000 EVs in its home country this January alone, including more than 4,000 VF 3s and 3,300 VF 5s. 

The company also delivered 31,170 electric scooters and bikes in Q4, bringing the 2024 total to 70,977 — a modest 1% increase from 2023.

However, some traders remain wary of VinFast's international growth. Reports suggest that despite the company's attempted push into global markets, only about 10% of its 2024 deliveries were outside Vietnam.

VinFast has shifted focus to Asia, with plans for assembly plants in India and Indonesia, after shelving plans for a U.S. factory last year.

VinFast's fourth-quarter and 2024 financial results are due before the market opens on April 24.

The stock has lost nearly 28% over the past year.

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