VinFast (NASDAQ:VFS) stock is getting a boost on Thursday alongside electric vehicle (EV) delivery data for the third quarter of 2023.
The latest delivery data from the EV company shows 10,027 units were delivered in the third quarter of 2023. That’s a massive improvement compared to the 153 deliveries made during the same period of the year prior.
To go along with this, VinFast affirmed its delivery outlook for the full year of 2023. This has the company expecting 40,000 to 50,000 deliveries during the year. It also expects to start deliveries of the VF 6 in Vietnam during the fourth quarter.
VinFast also notes that its revenue for the quarter comes in at $342.7 million. This represents a 159% increase year-over-year and is up 3.8% compared to the second quarter of 2023.
How This Affects VFS Stock
News of the growth in EV deliveries has investors taking extra note of VFS stock on Thursday. As a result, the company’s shares are seeing heavy trading today. This has more than 5.5 million shares changing hands as of this writing. That’s on pace to surpass the company’s daily average trading volume of about 5.9 million shares.
VFS stock is up 1% as of Thursday morning but is down 78% since the start of the year.
There are even more hot stock market stories that traders will want to read about below!
We’re offering up coverage of all the biggest stock market news that traders need to know about on Thursday! A few examples of this include what’s happening with shares of Polestar (NASDAQ:PSNY), Rivian (NASDAQ:RIVN) and BlackBerry (NYSE:BB) stock. All of that news is ready to go at the links below!
More Thursday Stock Market News
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
