Vietnamese EV maker VinFast is now worth more than Ford and GM after Nasdaq debut - CNBC article
VinFast’s shares jumped some 270% after its U.S. trading debut, vaulting its total market value past some of the world’s largest automakers. On Tuesday, the Vietnamese #electricvehicle maker listed on Nasdaq following the completion of its merger with the U.S.-listed #SPAC (special purpose acquisition company) Black Spade Acquisition. Shares of VinFast closed at $37.06 on Tuesday — 270% higher than Black Spade Acquisition’s IPO price of $10. Following the market debut, VinFast is now currently worth $85 billion, according to CNBC calculations. The SPAC merger previously valued VinFast at approximately $23 billion, according to a June filing with U.S. securities regulator. Source: CNBC
China asks some Funds to avoid net equity sales as Markets sink
Chinese authorities asked some investment funds this week to avoid being net sellers of equities, as a rout in the nation’s financial markets deepened. Stock exchanges issued the so-called window guidance to several large mutual fund houses, telling them to refrain for a day from selling more onshore shares.
BofA’s private clients have been dumping growth stocks while loading on Japan equities
Source: The Daily Shot, BofA
The best performance stocks in the S&P 500 this year...
Source: Charlie Bilello
Crude Oil cannot be stopped! It just had its 7th consecutive green week, its longest winning streak since February 2022
Source: Barchart
Many analysts point their fingers towards the options market for signs of stock market trouble. Goldman says dealers in ‘short gamma’ for first time this year
Meanwhile, we have a new 0DTE* options volume record. *Zero days to expiration options, or 0DTE options for short, are options contracts that expire and become void the same day that they’re traded. When an option reaches this stage, there’s not much more time left to act on the right to buy or sell the underlying asset. The window is small, and the move that the trader is plotting needs to happen fast. 0DTE options trading has entered the mainstream in recent years and is a popular premium collecting strategy. Source: www.zerohedge,com, Bloomberg, investopedia
Over the last few weeks, the newsflow for China assets has been horrendous, whether it’s the macro data or the policy side (disappointment at the scale and lack of detail)
While sentimnet on China is very bearish, Greater China stocks have outperformed over the past month. This could be a sign that the worst is behind and that bad news are already priced in. Source: J-C Gand, Bloomberg
Market cap of listed domestic companies as a % of GDP for selected countries
Switzerland is way ahead of peers in the ranking. US comes next Source: HolgerZ
