FPT Shares Plummet Amid Record Liquidity, Foreign Investors Retreat – What’s Happening to Vietnam’s Leading Tech Stock?

FPT shares experienced a vibrant trading session with record trading volume exceeding 16 million shares and transaction value surpassing 2.1 trillion VND on March 14. The stock price fell 3.7% to 131,400 VND per share, a 15% drop from its peak in January. Foreign investors sold a net of 650 billion VND, with a total value of net selling nearing 1.3 trillion VND over the past two weeks. Investors expressed concerns about the impact of cheap AI models from China, though FPT’s leadership claimed it wouldn’t severely impact the efficiency of FPT AI Factory. The company plans for its AI plant in Vietnam to start generating revenue in Q1 2024, with a target of reaching 40 million USD in AI revenue by 2025. The foreign IT service sector is projected to be the main growth driver with expected revenues of 75.4 trillion VND in 2025, a 20% increase compared to the previous year, driven by strong demand for digital transformation and AI.