And just when we thought we’ve seen it all…
From the article:
One of Vietnam’s biggest automakers has made a big splash on its entry to Wall Street, pushing its market capitalization above that of industry giants such as Volkswagen and Ford.
VinFast, an electric vehicle maker, enjoyed a red-hot debut in New York on Tuesday after merging with a special purpose acquisition company (SPAC), Black Spade Acquisition Co.
Shares of the newly combined company skyrocketed 270% on the Nasdaq on their first day of trade. They opened at $22, more than double the initial price of $10, and closed at $37 apiece.
The surge propelled VinFast’s market cap above $85 billion. That’s more than Volkswagen (VLKAF) or Ford (F), which are valued at 63.9 billion euros ($69.7 billion) and $48 billion, respectively, according to Refinitiv.
But wait, it gets even better…
So far, the company has released four electric vehicle models and delivered roughly 19,000 vehicles, according to its prospectus. For comparison, Volkswagen sold 4.4 million vehicles just in the first six months of 2023, more than 321,000 of which were electric.
Oy vey! Even for Cathie Wood this one might be a bit too much.
CONTRARIAN INDICATOR IN COMMODITIES
Long-time readers will know we’re big fans of various contrarian indicators here at Capitalist Exploits HQ.
More often than not, things like magazine covers, Superbowl ads, new ETFs and investment funds launching (or shuttering), etc. tend to signal market turning points with stunning accuracy.
With that in mind, this piece caught our attention the other day (h/t @PauloMacro)…
* Goldman Commodities Research Chief Jeff Currie Set to Leave Bank
This is the exact opposite of what we saw back in 2008 when oil rocketed to $150 and commodities went wild. There was a wave of commodity ETFs listed and commodity focused funds opened. Every week brought a new commodity fund… and just in time for the peak of the market.
But not right now. Today, most investors (still) prefer to chase money-losing EV companies rather than gorge on money-gushers in the commodities space.
ON BONDS
Check out this fascinating graphic from Charlie Bilello (@charliebilello):
We’ve been saying the bond market is a bug in search of a windshield for what feels like ages. And investing in bonds today — at the end of a multi-decade debt supercycle — strikes us as eating vindaloo that has been left out on the bench for a week and has gone furry. No bueno!
More By This Author:
Time To Get Back Into Bitcoin?
Here We Go Again
Obscure But Desirable Corner Of The Market: Offshore Drilling
Disclaimer: This is not intended to render investment advice. None of the principles of Capex Administrative Ltd or Chris MacIntosh are licensed as financial professionals, brokers, bankers or even ...
more
Disclaimer: This is not intended to render investment advice. None of the principles of Capex Administrative Ltd or Chris MacIntosh are licensed as financial professionals, brokers, bankers or even candlestick makers in any jurisdiction, anywhere on this big ball of dirt.We do NOT know your individual situation, and you should always consult with your attorneys, accountants, financial planners, and those that are sanctioned to provide you with advice. DO YOUR OWN DUE DILIGENCE.
But seriously, all investments carry risk. Some of what I discuss arguably carries great risk. Investments which can lead to you losing 100% of your capital and maybe more if you are stupid and use margin.If you invest more than you can afford to lose, or borrow money from Joey down at the tavern, Master Card or Visa to make your investments, then you need to go and read a different website.
But really seriously…
Capex Administrative LTD – parent company of CapitalistExploits.at is not a a registered investment advisor or broker/dealer. Readers are advised that the material contained herein should be used solely for informational purposes. Neither CapitalistExploits.at, Capex Administrative LTD purport to tell or suggest which investment securities members or readers should buy or sell for themselves. Readers, subscribers, site users and anyone reading material published by the above mentioned entities should always conduct their own research and due diligence and obtain professional advice before making any investment decision. Capex Administrative LTD, it’s principles and employees cannot and will not be liable for any loss or damage caused by a reader’s reliance on information obtained in any of our posts, newsletters, special reports, email correspondence, memberships or on this website. Like us, our readers are solely responsible for their own investment decisions.
The information contained herein does not constitute a representation by Capex Administrative LTD or CapitalistExploits.at or a solicitation for the purchase or sale of securities. Our opinions and analyses are based on sources believed to be reliable and are written in good faith, but no representation or warranty, expressed or implied, is made as to their accuracy or completeness. All information contained in our newsletters or on our website should be independently verified with the companies and individuals mentioned. The editor and publisher are not responsible for errors or omissions.
Capex Administrative LTD may receive compensation from time to time from the companies or individuals that may be mentioned in our newsletters, special reports or on our web site. If compensation is received we will indicate that compensation in the post or the content, or on this website within this “disclaimer.” You should assume a conflict of interest when compensation is received and proceed accordingly.
Any opinions expressed are subject to change without notice. Owners, employees and writers may hold positions in the securities that are discussed in our newsletters, reports or on our website.Owners, employees and writers reserve the right to buy and sell securities mentioned on this website without providing notice of such purchases and sales. You should assume that if a company is discussed on this website, in a special report or in a newsletter or alert, that the principals of Capex Administrative LTD have purchased shares, or will make an investment in the future in said company.
If you have a question as to what we own and when, we are happy to fully-disclose any and all interests to our readers.
less
How did you like this article? Let us know so we can better customize your reading experience.
