HANOI/WASHINGTON : VinFast shares slumped for a third straight session on Friday, with the Vietnamese electric automaker now losing more than half of its market value since its blowout Nasdaq listing this week. The cash-burning company was last valued at US$35 billion, down from US$85 billion in its Wall Street debut on Tuesday. VinFast shares on Friday fell 23% to close at US$15.40, slipping below its opening price of US$22 on Tuesday, when it had surged up to US$38.78. With about 99% of the firm controlled by founder Pham Nhat Vuong, the small amount of publicly available shares makes the stock prone to volatility.

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