Quote:
Originally Posted by JoeC
Electric-truck maker Rivian
Shares of Rivian Automotive Inc (RIVN.O) surged as much as 53% in its Nasdaq debut on Wednesday, giving the Amazon-backed electric vehicle maker a market valuation of more than $100 billion after the world's biggest initial public offering this year.
That made Rivian the second most valuable U.S. automaker after Tesla Inc (TSLA.O), which is worth $1.06 trillion. Despite just having started selling vehicles and having little revenue to report, Rivian ranked ahead of General Motors Co (GM.N) at $86.05 billion, Ford Motor Co (F.N) at $77.37 billion, and Lucid Group (LCID.O) at $65.96 billion.
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I ordered a Rivian truck months ago and test drove one Wednesday. Nice truck built in Illinois. Because I ordered one I was offered to buy up to 175 shares of their stock before it went public. Bought 175 shares for 13,650.00. As of today it's worth 21,523.00. I think a big reason for the confidence in the stock is the fact that Amazon is heavily invested in them plus they ordered 100,000 electric delivery vehicles from them.