VFS Stock Alert: VinFast Plunges on NHTSA Probe


  • VinFast Auto (VFS) stock is down on Tuesday alongside an investigation into a crash.
  • This concerns one of the company’s VF 8 vehicles.
  • The problem could be tied to its autosteering function.
VFS Stock - VFS Stock Alert: VinFast Plunges on NHTSA Probe

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VinFast Auto (NASDAQ:VFS) stock is on the move and falling hard on Tuesday after the company confirmed its under investigation by the National Highway Traffic Safety Administration (NHTSA).

This investigation is tied to a fatal crash that occurred on April 24. The incident resulted in the deaths of a couple and their two children. Concerns have been raised over the steering of the VinFast VF 8 involved in this crash.

The crash took place in Pleasanton, California and local authorities noted the driver collided with an oak tree. This caused a vehicle fire and killed the family. The driver’s coworker raised concerns after noting that the steering wheel of the vehicle had jerked to the right in a previous incident.

This concern has to do with the autosteering function included in the VF 8. While there’s no confirmation yet, the possibility that the function caused the fatal wreck is a concern for VFS stock investors.

VFS Stock Movement Today

VFS stock is experiencing heavy trading on Tuesday alongside this news. That has more than 3.3 million shares changing hands as of this writing. That’s already well above its daily average trading volume of about 2.8 million shares.

VFS stock is down 10.5% as of Tuesday morning. The company’s shares are down 19.7% since the start of the year.

Investors will want to keep reading for more of the most recent stock market news!

We have all of the hottest market happenings worth knowing about on Tuesday! Among that is what has shares of Citius Pharmaceuticals (NASDAQ:CTXR) and Nvidia (NASDAQ:NVDA) stock moving today, as well as other news. You can catch up on this below!

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On the date of publication, William White did not hold (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.

Article printed from InvestorPlace Media, https://investorplace.com/2024/05/vfs-stock-alert-vinfast-plunges-on-nhtsa-probe/.

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