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VinFast Auto Ltd. (NASDAQ:VFS) is one of the Best Rising Penny Stocks to Buy Now. VinFast Auto Ltd. (NASDAQ:VFS) has gained more than 33.87% over the past month, and Wall Street maintains a bullish sentiment on the stock. As of April 11, 3 out of 4 analysts covering the stock had a Buy rating, while 1 maintained a Neutral stance. The analyst’s 12-month average price target reflects more than 43.2% upside from the current level.
Recently, on April 6, the company announced strong delivery figures for Vietnam during March. VinFast Auto Ltd. (NASDAQ:VFS) received more than 135,000 dealer orders for electric scooters from Vietnam and shipped more than 93,000 electric scooters during the month. Among this category, the Evo and Feliz models were found to be the best-selling for the month, with around 52,000 Evo units and over 24,000 Feliz units sold by dealers in March.
Management noted that this represents record growth in its e-scooter business in Vietnam. However, the company also highlighted that the vehicle deliveries might not translate to completed sales or future financial performance, as quarterly results depend on a number of other factors, such as the average selling price and the cost.
VinFast Auto Ltd. (NASDAQ:VFS) is a Vietnamese automotive manufacturer specializing in the design and production of electric vehicles (EVs), including SUVs, e-scooters, and e-bikes. It transitioned to an all-electric lineup in 2022, focusing on global expansion, smart manufacturing, and the development of EV charging infrastructure in markets such as the US and India.
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