Bowl-a-Rama: Pinstripes Strikes $520M Merger with Banyan Acquisition Corp, Ready to Spare No Expense in Entertainment

“Delaware Judge Throws SPAC Merger Roulette Ball; Philippines’ Largest Casino Rolls with It”

TLDR:
– Philippines’ largest casino avoids SPAC merger agreement with 26 Capital Acquisition Corp.
– Delaware Judge Travis Laster rules against the merger due to perceived unseemly actions by 26 Capital.

Well, folks, hold on to your wallets because the world of high stakes gambling just got a little more complicated. The Philippines’ largest casino, owned by a tiny subsidiary of Japan’s Universal Entertainment Corp, has been let off the hook from being compelled into a SPAC merger agreement with 26 Capital Acquisition Corp. This comes thanks to a landmark ruling by Delaware Judge Travis Laster. You know, the kind of ruling that makes you scratch your head and say, “Well, I didn’t see that coming!”

Now, if you thought the jackpot in the slot machines was big, this merger was a $2.5 billion pot. But, apparently, there’s no payout today. Our good friend, Mr. Laster, justified the ruling by saying that 26 Capital had been dabbling in unseemly shenanigans that shouldn’t earn them a payday. The judge has essentially hit the pause button on this game, leaving 26 Capital scratching their heads and calculating their next move.

In this high roller game, the house usually enforces the rules. Traditionally, Delaware courts would order parties to follow through with merger agreements. However, Judge Laster felt he was dealing with an exceptional hand, one where he didn’t have the ability to effectively monitor and enforce such orders. A unique situation indeed, but then again, isn’t every high stakes game unique?

This decision could be quite a game changer; it’s the equivalent of drawing an Ace from a deck of 52 cards. It’s not every day that a potential violation of a Philippine court order comes into play. Just last year, the Philippine Supreme Court rolled the dice and ordered Japanese pachinko king Kazuo Okada reinstated as the casino owner leader. Laster didn’t fancy the idea of undermining this order or rewarding any underhanded play.

Things got even more interesting when it was revealed that Alex Eiseman, founder of Zama Capital hedge fund and advisor on the deal, held more than 60% of 26 Capital’s subsidiary. Now, I don’t know about you, but that seems like he was trying to hit the jackpot on both ends. Laster is no pushover, he described Eiseman’s work with 26 Capital as a “conspiracy to mislead Universal.” A conspiracy, in a high stakes game – who would’ve thought?

This ruling has significant implications, it’s like pulling the lever and hitting three cherries on the slot machine for Okada Manila. For 26 Capital, it’s more like a busted flush. They stand to lose a potential $275 million profit if the deal doesn’t go through. As for what’s next, 26 Capital may seek damages or find another way to cash in their chips. But for now, it seems the house – in this case, Okada Manila – always wins.

And that, my friends, is how the game is played in the world of SPAC merger agreements and casino ownership. The cards are dealt, the stakes are high, and the players are waiting for the next move. We’ll just have to wait and see who bluffs, who folds, and who walks away with the pot. Until then, keep your chips close and your cards closer.

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Delaware Ruling Exposes SPAC Scandal: The Smoke, Mirrors, and Pinball between 26 Capital and Okada Manila

TLDR:
– Hedge fund manager Alex Eiseman secretly received 60% of Jason Ader’s stake in 26 Capital Acquisition Corp., a SPAC attempting to merge with Okada Manila casino.
– Ader sold a portion of his SPAC stake for $25 million, leading to a separate lawsuit by the billionaire’s family office questioning the deal.

Well, folks, here’s a tale that proves once again that high-stakes finance can be just as thrilling as any spy movie. 26 Capital Acquisition Corp., a special-purpose acquisition company (SPAC) backed by gaming industry analyst and investor Jason Ader, tried to merge with a ritzy casino in the Philippines, the Okada Manila. But the courts have called ‘game over’ on that plan, due to some sneaky double-dealing that smelled fishier than a seafood buffet on a hot day.

Here’s the deal: A Manhattan hedge fund manager, Alex Eiseman, was hired by Universal Entertainment Corp., the Japanese company behind Okada Manila, to find a SPAC to acquire the casino. But Eiseman, instead of doing his best Vanna White and finding the best deal possible, decided to go for a bit of personal gain. Our judge, J. Travis Laster, ruled that Eiseman got 60% of Ader’s stake in 26 Capital – a deal that was kept as secret as grandma’s biscuit recipe. Universal and the SPAC’s shareholders were left in the dark until the pretrial discovery phase of the Delaware case.

As if it couldn’t get more interesting, Ader didn’t even wait for the ink to dry on the deal before selling another slice of his SPAC stake for a neat $25 million. That’s a lot of chips to put on red. The judge noted this, along with the fact that Ader and his mother pocketed the sum. Ader insists the payout was proper, but there’s a separate lawsuit by the billionaire’s family office he sold to, questioning the deal.

Despite all this drama, the shares of 26 Capital SPAC are down only 3% since the judge’s ruling, sitting at $11.15. Ader, in a statement as well-crafted as a poker face, said they were disappointed with the ruling, but would explore all available strategic options. Meanwhile, Eiseman seems to be playing his cards close to his chest, declining to comment on the case and stating he will tell his side of the story in a New York fraud lawsuit brought about by the casino owner.

Universal Entertainment Corp. has pulled up the drawbridge on the SPAC deal, and their lawyer, Grant Mainland, has stated that they’re ready to defend themselves if 26 Capital pursues monetary damages. All in all, folks, it’s a high-stakes game of cat and mouse that shows us, once again, that in the SPAC market, what you see isn’t always what you get. As the Securities and Exchange Commission gears up to vote on new SPAC rules to improve transparency, let’s hope this sorry saga serves as a cautionary tale. After all, casinos are for gambling, not the stock market, right?

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SPACs Back in the Spotlight: A Dramatic Return or a Soap Opera Sequel in the Making?

TLDR:
– SPACs, despite controversies and catastrophic losses, continue to attract attention and investment in the IPO market.
– The recent acquisition of Better.com by a SPAC highlights the risks involved in such deals, with a significant loss of value.

Well, folks, strap in because the world of Special Purposes Acquisition Companies, or SPACs as they are affectionately known, is back on the roller coaster ride. After a somewhat snoozy year in 2022 where they only managed to scrape together $13 billion (a mere pittance, really), these blank-cheque companies are back at it again. They’re throwing around billions like it’s Monopoly money, buying up companies and making headlines, and giving the financial sector something to gossip about at their fancy cocktail parties.

The darling child of this week’s SPAC drama is Better.com, a home loan company captained by the infamous Vishal Garg. The deal, like a reality TV show, was replete with juicy tidbits for us to chew on. It had everything – complex insider trading, an ongoing SEC investigation, and a CEO with a reputation that could make even the most hardened Wall Street shark blush. Now, despite all these red flags waving as wildly as a semaphore operator on a caffeine binge, the deal still went through. But lo and behold, by the time the dust settled, the deal’s value had plummeted by an eye-watering 90% or more.

Now, amid all this financial freneticism, you’d think the SPACs would be hunkering down, trying to keep a low profile. But oh no, my dear reader – that’s not how these blank-check bad boys roll. They’ve got big names like Donald Trump and Vivek Ramaswamy along for the ride, and they’re in it for the long haul. Even our old friend Chamath Palihapitiya, the Robin Hood of SPACs, is still peddling his mysterious promises of wealth, despite some backlash on social media. But hey, as he so casually put it, “some will work, some won’t.” The question though, and it’s a big one, is when will they start working for the everyday Joe and Jane?

The resurgence of the IPO market has led to the triumphant return of SPACs, for better or worse. These financial Frankensteins, for all their controversies and catastrophes, are still attracting attention and investment. They’re a bit like that bad boy in high school – everyone knows they’re trouble, but they can’t help being drawn in by their charm. The recent acquisition of Better.com by a SPAC, with all its subsequent drama and loss of value, serves as a blinking neon sign of the risks involved in such deals.

So what does the future hold for SPACs? Well, if I had that crystal ball, I’d probably be sitting on a yacht somewhere in the Caribbean, sipping a mojito. But one thing’s for sure – with their penchant for controversy, their dramatic ups and downs, and their alarmingly high stakes, SPACs are a spectacle that we can’t take our eyes off. As they lurch from one deal to the next, we’re left wondering – when will the ride end and will the everyday investor be left holding the bill?

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Shockwave City: How Growth for Good Acquisition and Zero Nox Went From “I Do” to “I Don’t”

TLDR:
– Growth for Good Acquisition abruptly ends merger with Zero Nox due to missed deadline, leaving Zero Nox to reassess their plans.
– Termination of the agreement casts doubt over the off-highway vehicle electrification market, forcing shareholders to rethink their investments.

Oh, what a day to be alive in the business world, folks! In a turn of events that would make a soap opera scriptwriter blush, the much-anticipated love affair between Growth for Good Acquisition and Zero Nox came to an abrupt, screeching stop. Who’d have thought? A business deal going south? What an absolutely unseen plot twist!

Now, it seems Growth for Good Acquisition was once head over heels for Zero Nox, all eager for the merger. But as the deadline approached, like a nervous bride on her wedding day, they changed their mind. Apparently, the inability to complete it by the deadline caused this abrupt change of heart. Great excuse, right? Like a groom saying he can’t marry because he was unable to find a matching tie before the ceremony. For all we know, they may have just realized that merging with Zero Nox wasn’t a good idea after all.

Now we’re left with Zero Nox, standing all alone at the altar, abandoned and trying to figure out a new game plan. They’re left in the dust, probably contemplating their choices and wondering where it all went wrong. Now, they must find a new path to accomplish their electrifying goals.

In business, as in life, the end of a relationship isn’t just about the people directly involved. In this case, it’s a real punch to the gut for the entire off-highway vehicle electrification market. The termination of this agreement has cast a cloud of doubt over the entire industry. Shareholders are now wandering around like lost puppies, rethinking their investment strategies while the rest of the industry scratches its head and tries to adapt to this twist of events.

So where does this leave Growth for Good Acquisition? Well, they’ve decided to pack up their toys and go home. They’re going to liquidate and redeem their ordinary shares while warrants to buy shares will expire worthless. A great lesson in the art of ‘taking the money and running’.

Zero Nox, the provider of off-highway vehicle electrification, was set to become the first publicly listed company of its kind with the merger. But now? They’re just another name in the sea of companies trying to make their mark in this industry.

What a rollercoaster ride this has been for everyone involved, reminding us all that in business, as in life, not everything goes according to plan. But hey, back to the drawing board! Let’s just hope they can kick start their engines, shake off the dust and find new paths to future success. Because in the end, the show must go on, right? In the meantime, grab your popcorn folks, because if this latest incident is anything to go by, we’re in for quite a ride in the off-highway vehicle electrification market.

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US Pulls a Trade Switcheroo, Swaps Chinese Imports for Mexican Flavor – Global Economy Holds its Breath!

TLDR:
– The United States is shifting its import strategy away from China and towards Mexico, in an effort to diversify import partners and reduce reliance on China in the midst of strained trade relations.
– Tech companies like Apple, Tesla, and Nvidia are also looking to move away from China and explore opportunities in Mexico, as a way to mitigate the risks of a potential trade war and boost their recovery.

Well, isn’t this a juicy taco of economic news? The United States, in a bold move that would make a salsa dancer proud, has sashayed past China in the race for Mexican imports. And get this, it’s the first time since 2023. Talk about a comeback! But why the sudden fondness for all things Mexican? It seems the US is trying to spice up their import game, not wanting all their eggs (or should I say, avocados?) in the Chinese basket.

As the economic tango between the US and China reaches fever pitch, data shared by Chamath Palihapitiya, the venture capitalist with a knack for turning complicated numbers into juicy gossip, reveals the strategy behind the salsa. With the current trade relations between the US and China colder than a leftover burrito, diversifying import partners could be the hot sauce the US economy needs.

This significant shift in import behavior is not an isolated incident, but part of a grander, strategic two-step. You see, Apple recently got a virtual slap in the face from China when iPhones were banned in government offices. That’s like telling the Kardashians they can’t take selfies. It’s no surprise that Apple’s stock took a belly flop. The company lost around $190 billion in market worth in just two days. That’s enough to buy everyone in the US a round of tequila shots and still have some change left over.

But don’t think it’s just Apple sobbing into its margarita. Other tech heavyweights like Tesla and Nvidia, who’ve been cozying up to China for years, are feeling the chill too. If a full-blown trade war breaks out, it could put the brakes on their recovery and squeeze their revenues. It’s like a late-night party when the cops show up – not good for anyone involved.

But let’s not get too gloomy here. The data hinting at a move away from China could be a silver lining in this trade war cloud. Take Tesla for example. Currently, they’re making about half of their electric cars in China, but they’ve recently started work on a Gigafactory in Mexico. That’s right, Musk is trading in dumplings for tacos, and it could be just the diversification strategy they need.

The rise of Mexico as a key trading partner for the US is the mariachi band in this economic fiesta. Thanks to NAFTA, the free trade agreement among the US, Canada, and Mexico, trading barriers are as low as a limbo stick at a beach party. This could create a thriving environment for businesses to expand their operations.

So, as we continue to salsa through the complexities of global trade, let’s remember that adaptability and resilience are key. Shaking up supply chains, diversifying import partners, and stepping out of our comfort zones might just be what keeps our economies spinning on the dance floor of global trade. Sure, there will be challenges and missteps along the way, but as long as we keep our sense of humor, we’ll be able to handle whatever the DJ throws our way.

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Apple Cranks Up Its Genius: Get Ready to iQ Up with the iGenius!

TLDR:
– Apple has introduced the iGenius, a high-priced device that promises to improve human intelligence and revolutionize personal computing.
– Apple’s loyal followers are expected to eagerly pre-order the iGenius, demonstrating the company’s ability to consistently innovate and dominate the tech industry.

In an act that could only be described as a grand opera of opulence, Apple, the technological titan, has once again outdone itself with the introduction of its latest brainchild, the iGenius. Listen folks, this isn’t just a shiny new toy. This is a bona fide declaration that you’ve got more money than you know what to do with. Priced at a mere $1,999, the iGenius is a steal for anyone who’s somehow managed to save a small fortune by skipping that daily cup of overpriced coffee.

But oh, the things you get for that amount. It’s been touted as the ultimate device to ‘improve human intelligence’ – as though we’ve all been waiting for a gadget to help us find where we left our car keys. But it’s Apple, folks. They’ve got the Midas touch, turning everything they lay hands on into digital gold. And it seems they’re rather confident that their legion of loyal followers are not only blessed with brains but also overflowing wallets.

So, what’s the big deal about this iGenius, you might wonder? Well, it’s set to ‘revolutionize personal computing’. Now, if you’re like me and find the idea of revolutionizing something as personal as computing rather terrifying, you’re not alone. But rest assured, they’ve got it all figured out. And it’s marvelous, or so they say. It’s like they’re telling us, “Hey, remember when you could just turn your computer on and off to fix it? Those days are gone, buddy. Welcome to the future.”

So who’s ready to jump on this fast-moving bandwagon? With the promise of pre-order frenzy, it seems like Apple knows its customers well. They’ve got us all under their spell, leaving us in awe of their technological wizardry. This iGenius of theirs isn’t just a product, it’s a statement. A testament to their aptitude for consistent innovation and a symbol of their claim to the tech throne.

In other news, feel free to sign up for our free newsletter if you want to stay informed on the latest SPAC news. It’s like getting a daily dose of market excitement delivered right to your inbox. Because hey, who doesn’t love a little extra anxiety in their day? With daily updates and insights, you can stay ahead of the curve. Or at least think you are.

But remember, whether you’re an Apple aficionado, a SPAC enthusiast, or just a regular bystander in the ever-evolving world of business, always keep your sense of humor. Because, let’s face it, in a world where a personal computer is named iGenius, you really have to laugh, don’t you?

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Buckle Up Cyber Geeks: Yubico’s Sleek YubiKey X, Unexpected Apple Alliance, and a Glimpse Into A Secure Digital Future

TLDR:
Yubico emphasizes the importance of collaboration in the face of growing cyber threats.
Yubico is praised for their leadership and innovation in the cybersecurity industry.

Well, folks, I’m back from the mystical land of conferences and keynotes, where caffeine is the only currency and sleep is a myth. This time, I found myself in the high-octane world of cyber security. Sounds exciting, doesn’t it? Yeah, that’s what I thought.

Now, our tale today revolves around Yubico – you know, the guys who’ve made it their mission to wrap our digital lives in an impenetrable fortress. I had the chance to sit in their “Future of Cybersecurity” event – the irony of the term “future” here is just too delicious. But let’s not digress.

The crux of the Yubico message, aside from the usual spiel about pushing boundaries and continual innovation, is the importance of collaboration in the face of growing cyber threats. It’s a noble sentiment, really. Because, you see, nothing bonds humanity like a common enemy. And in the digital front, this enemy doesn’t ride on horses or wave flags, no. It hides behind screens and code, striking when you least expect it.

Riding on their white horse of cutting-edge tech and collaboration, Yubico has once again claimed its throne as a leader in the cyber security industry, a shining beacon in a sea of digital storms. They’ve got us all on the edge of our seats, waiting with bated breath for their next groundbreaking innovation. And let me tell you, the suspense is just riveting.

To stay in the loop on all things Special Purpose Acquisition Companies (SPAC), I’d highly recommend signing up for our free newsletter (don’t worry, we don’t bite, or hack). You’ll be privy to the latest daily SPAC news and who knows, you might even pick up a few pointers on how to protect your digital life from the invisible enemy. And who wouldn’t want that?

In all seriousness though, I do have to tip my hat to Yubico. It’s not an easy feat to stay ahead in the ever-changing, tumultuous world of cybersecurity. But they’ve managed to do it, and they do it with style. So here’s to hoping that their future is as bright as the glare off your computer screen at 3 am.

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When a Dream Turns into Nightmare: How 26 Capital Had to Kill its Casino Conquest Over Legal Snafus

TLDR:
– 26 Capital Acquisition Corp. has decided to liquidate after failing to acquire Okada Manila, but they are promising something new and exciting in the future.
– The company has learned from their mistakes and is ready to come up with another scheme to transform the entertainment and hospitality industry.

Well folks, in a turn of events that’s about as surprising as finding out your favorite politician lied, 26 Capital Acquisition Corp., the ambitious SPAC that vowed to revolutionize the entertainment and hospitality industry, has decided to throw in the towel and liquidate. Despite all the chest-thumping and high-flying dreams of acquiring the respected owner of Okada Manila, a renowned Philippine casino operator, they find themselves in the same spot as a guy who bet his shirt on a three-legged racehorse – broke and regretting their life choices.

The company had grand plans, like a kid in a candy store with their daddy’s gold card, hell-bent on acquiring Okada Manila as the cornerstone of their future empire. But they hit a wall, the kind of wall you hit when you realize the ‘all-you-can-eat’ buffet has a time limit. The legal battle that ensued made a daytime soap opera look like a boring documentary.

Now, just as you’re getting all teary-eyed, remember this isn’t their swan song. Don’t mourn the demise of the company yet, folks. Like a magician pulling a rabbit out of a hat, they’re promising the rise of something new and exciting from the ashes of their liquidation. You’ve got to hand it to them; they certainly know how to keep the drama alive in the world of business.

They claim that their experiences have enriched them with strategic acumen and valuable insights, which is a nice way of saying they’ve learned how not to step on the same rake twice. So, they’re back at the drawing board, ready to cook up another scheme to transform the entertainment and hospitality industry. They’ve got the spirit of a cockroach surviving a nuclear winter, pressing forward no matter what.

As we all know, the path to success is often paved with failure, so here’s hoping 26 Capital Acquisition Corp. has stocked up on enough humility and learning from this debacle. In the grand tradition of spectacular failures leading to future success, they’re gearing up for another run at the windmill. With a little luck, and hopefully a better legal team, they might just pull it off.

In the meanwhile, grab your popcorn, folks. It’s going to be interesting to see what kind of rabbit they’re going to pull out of their hat this time. They may not have succeeded in reinventing the wheel this time around, but who knows, maybe they’re just one hare-brained scheme away from innovating the entertainment industry. After all, the only thing predictable about business is its unpredictability. So let’s see if 26 Capital Acquisition Corp. can bounce back from this setback and surprise us all.

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Rock On, Ricochet Rabbit: From Bike Tour to Touring with Guns N’ Roses, Dirty Honey’s Marc LaBelle Can’t Find the Brakes on Success

TLDR:
– Lead singer Marc LaBelle and his band Dirty Honey have achieved tremendous success in the music industry, including topping Billboard’s Mainstream and Hard Rock charts with their debut single.
– Despite the pandemic, Dirty Honey continued to work on their music, recording their new album in Australia and teasing fans with their new single “Won’t Take Me Alive.” They are set to embark on a headlining tour after their SPAC performance.

Ladies and gentlemen, we’re here tonight to discuss the enigma that is Marc LaBelle, lead singer of Dirty Honey, a band that’s been on a wild ride of success in recent years. Now, LaBelle is a man of many talents, one of which, apparently, is time management. Let me tell you why – between endless tours, recording sessions, and opening for Guns N’ Roses, the man still found time to pedal his way through British Columbia and Alberta. You have to admire a guy with that kind of dedication, a man who can play a high-octane rock show one night and then chase Canadian geese on a bicycle the next.

Now, Dirty Honey – don’t let the name fool you. They’re not peddling some kind of illicit honey. No, they’re a rock and roll band that has been making waves in the music scene. Despite not having a record deal, they managed to top Billboard’s Mainstream and Hard Rock charts with their debut single, “When I’m Gone.” Ironically, they were nowhere near ‘gone’ when they made that achievement. In fact, they were right here, smack in the middle of the limelight, making history.

LaBelle’s musical journey began in the least likely of places – at a SPAC concert, where he had his first taste of live music, courtesy of Aerosmith. It’s a little like getting your first driving lesson in a Lamborghini. Talk about setting the bar high! Taking a few guitar lessons and honing his singing skills, LaBelle was ready to unleash his talents. And unleash he did, culminating in Dirty Honey’s debut album and forthcoming follow-up, “Can’t Find the Brakes.” Although, with their relentless pace of success, it seems the band has no need for brakes at all.

Despite the pandemic-induced hiatus from touring, Dirty Honey kept their engines running, collaborating with renowned producer Nick DiDia, with whom they finally managed to share a room with this year in Australia. They recorded their new album there, and LaBelle described the process as “magical.” Presumably, it wasn’t the kind of magic that involves pulling rabbits out of hats, but rather, the kind that results in chart-topping rock anthems. Their new single “Won’t Take Me Alive” is already out, teasing fans with a taste of the upcoming album.

Now for those of you lucky enough to get tickets to their SPAC performance, where they’ll be playing some of these new tracks, LaBelle has some advice: get there early. We can only assume that punctuality is next to godliness in the world of rock and roll. Following their SPAC performance, the band will embark on a relentless headlining tour to celebrate their album’s release. One can only imagine how much itching LaBelle will be doing without two nights off.

Just when you thought the rollercoaster ride was over, LaBelle’s journey comes full circle, as he plans to attend a concert by his favorite bands, Aerosmith and The Black Crowes, right after the SPAC show. It’s like life handed him the perfect weekend: perform at SPAC, then zip off to see his favorite bands. So, to sum it all up, Marc LaBelle and his band Dirty Honey are living the rock and roll dream, with a side of Canadian bike tours. They’re concocting a unique blend of rock music, and it seems the world can’t get enough of their sweet nectar.

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Fast and Curious: VinFast’s EV Hype Train Leaves Station, Stock Soars Despite Tepid Car Reviews

TLDR:
– VinFast, a Vietnam-based electric vehicle company, saw its shares soar 830% after going public via a SPAC IPO, making it the third most valuable car company on paper.
– The surge in stock prices was due to a limited number of available shares causing an imbalance in supply and demand, rather than the company’s performance or sales figures.

Imagine this. You’re a new kid on the block, and on your first day, you topple the school’s big guns. That’s what VinFast, a Vietnam-based electric vehicle company, did when its shares soared a staggering 830% after going public via a SPAC IPO earlier this month. Despite modest sales figures and unfavorable reviews, VinFast was riding a financial high, making it the third most valuable car company on paper, only trailing Tesla and Toyota. Poor Ford and General Motors were left in the dust, wondering how the new kid got so popular so quickly.

But here’s the catch. The surge wasn’t because they had a shiny new line-up of vehicles or overwhelming sales. Oh no, they expect to sell a paltry 50,000 vehicles this year, and let’s just say the reviews of their cars wouldn’t be winning them any awards. MotorTrend kindly suggested they “return to sender.” VinFast’s success was not due to any spectacular performance but a limited number of available shares causing an imbalance in supply and demand. You see, the founder, Pham Nhat Vuong, holds 99% of VinFast, having issued a mere 1% of the shares to the public.

So, we have the float of just 7.2 million shares available for the public to trade, causing stock prices to skyrocket. It’s a bit like a rare coin gaining value because there aren’t enough of them to go around—a classic case of scarcity increasing value. But one mustn’t forget, the coin’s real value is only what someone is willing to pay for it.

Now, this is where it gets interesting. The stock, like any commodity with a low float, is prone to high volatility. And it’s also more susceptible to drastic price changes because it doesn’t take much buying or selling pressure to shift the scales. In fact, VinFast experienced a 26% fall Tuesday, and the stock could continue its downward spiral as more shares enter the market. This is especially likely with several lockup agreements with insiders and the SPAC sponsor set to expire, which would result in selling off millions of shares.

And let’s not forget VinFast’s expansion plans. They need fuel to power their journey into the US market, and by fuel, I mean cold hard cash. The company had reported having about $160 million at the end of March, so they might just be tempted to take advantage of the recent spike in their stock by selling shares at current prices.

Short-seller Jim Chanos, however, isn’t biting the VinFast bait. He labeled it a “$200 billion meme stock,” suggesting VinFast’s luck would run out before they hit 40K units. But given the low float and high volatility, it seems unlikely that short-sellers are queuing up to bet against the company just yet. So, for now, it seems VinFast is enjoying its time in the sun. But as we all know, the weather can change pretty quickly on Wall Street. Only time will tell if VinFast is a one-hit-wonder or if it has the stamina to run with the big dogs.

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