The largest private enterprise on the stock market is about to change hands?

On March 13, Vingroup’s stock (VIC) surged to its ceiling price of 51,400 VND, marking a peak high in 18 months, with Vinhomes (VHM) and Vincom Retail (VRE) also recording significant growth. Vingroup’s market capitalization increased by 41 trillion VND since the beginning of the year, reaching around 196 trillion VND, just behind FPT (201 trillion VND) by 5 trillion VND. At one point, VHM surpassed FPT with a market cap exceeding 203.5 trillion VND after hitting 49,550 VND. In contrast, FPT’s market cap dropped by 24 trillion VND, and Masan Consumer fell by 29 trillion VND during the same period. FPT faced challenges from the low-cost AI model DeepSeek from China, leading to concerns about devaluation in the AI sector, with major tech stocks like NVIDIA and Microsoft also experiencing declines.