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Fortune

Christiaan Hetzner

VinFast shares tanks after Jim Chanos brands it a 'meme stock'

Jim Chanos VinFast Enron Elon Musk Tesla Inc. Toyota United States

Short seller Jim Chanos (Credit: David Paul Morris—Bloomberg via Getty Images)

Short-selling legend Jim Chanos had a few choice words for VinFast Auto, the wunderkind car stock from Vietnam, shortly before it tanked by more than 40% in Tuesday’s trading session.

The speculator, who famously made a fortune betting against Enron before its demise, branded the electric vehicle newcomer a “$200 billion meme stock” only hours earlier.

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