Rivian Automotive Inc. Cruises to $100B Valuation after IPO

Rivian Automotive RIVN, an electric vehicle (“EV”) startup that has been compared to Tesla, recently went public in an IPO that is said to be the biggest for an American company since Facebook — and the biggest in the world this year. The California-based electric truck maker went public on Wednesday with its shares trading at $78 each, but by the end of its first day as a publicly-traded company, Rivian shares were trading at more than $100, giving the company a valuation of $88 billion. On Thursday, Rivian’s shares went up by 30%, pushing the company’s valuation to more than $100 billion and making the EV maker more valuable than General Motors or Ford, one of its most significant backers.

Despite having sold zero electric vehicles, save for the few that were distributed among its employees, Rivian is now the second-most valuable American company after EV pioneer Tesla. Detroit-based General Motors, which is now less valuable than Rivian, sold more than 6.8 million…

Read More >>

About Green Car Stocks

Green Car Stocks (GCS) is a specialized communications platform with a focus on electric vehicles (EV), as well as other emerging market opportunities in the green sector. The company provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, GCS is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, GCS brings its clients unparalleled visibility, recognition and brand awareness. GCS is where news, content and information converge.

To receive SMS text alerts from Green Car Stocks, text “Green” to 21000 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenCarStocks.com

Please see full terms of use and disclaimers on the Green Car Stocks website applicable to all content provided by GCS, wherever published or re-published: https://www.GreenCarStocks.com/Disclaimer

Green Car Stocks
Los Angeles, CA
www.GreenCarStocks.com
415.949.5050 Office
Editor@GreenCarStocks.com

Green Car Stocks is part of the InvestorBrandNetwork.

Image Sourced from Pixabay