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Rivian IPO launched!

Discussion in 'Rivian' started by Domenick, Nov 10, 2021.

  1. Domenick

    Domenick Administrator
    Staff Member

    Aug 10, 2017
    2,164
    It's been a couple of years since I started a thread discussing a rumored Rivian IPO, but today it actually happened. It's turned out to be the biggest IPO of the year.

    Rivian shares are now trading on the NASDAQ under the symbol RIVN. (Here are links to it on Google Finance and Yahoo! Finance)

    The original offer price was $78 a share, but early investors saw that as undervalued and the stock actually opened at $106.75 at 1:00 PM Eastern. Early enthusiasm pushed the price up to $119.46, but things settled down slightly and at the end of trading, it had fallen to a "mere" $100.73 a share.

    That leaves the company's market capitalization at $98.663 billion.

    This seems quite optimistic for a company that just started delivering vehicles, but stocks are all about future expectations. I certainly hope Rivian can live up to these expectations.

    I, personally, don't hold positions with automakers because I also report on them, but if you do, please tell us if you've invested or are planning to. Or, alternately, why you aren't planning to.

    Here's a little screen capture of today's action for posterity.

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