VinFast loses almost half its value as shares hit the skids after spectacular $85 billion market debut

• Shares in VinFast soared on its Spac-led debut in New York Tuesday, leaving it worth $85 billion. 
• The Vietnamese EV carmaker has sunk since then, losing almost half its value. 
• The net worth of VinFast's owner, Pham Nhat Vuong, has also plunged as a result. 

After a spectacular debut earlier this week, shares in VinFast have hit the skids.  

After the first day of trading in New York, shares in the Vietnamese electric carmaker closed at $37, leaving it worth about $85 billion – far more than Ford, General Motors, or Chrysler Stellantis.