The strong stock market performance of Rivian sparked a discussion about the valuation of the electric vehicle manufacturer.
(Photo: imago images / ZUMA Wire)
Denver Rivian is the new star on the stock market. The electric start-up hit a new high in early New York trading on Tuesday at $ 167.51 and was valued higher than VW at $ 143 billion in market capitalization. In the course of the day, however, the Rivian course lost some of its momentum.
The electric vehicle manufacturer from Irvine, California, went public last Wednesday and, with an initial valuation of around 90 billion dollars, was already worth more than the large established US manufacturers General Motors and Ford. Since then, the share has continued to rise.
The strong stock market performance of Rivian sparked a discussion about the valuation of the electric vehicle manufacturer. Rivian is the second most valuable manufacturer behind Tesla. And this despite the fact that the company has only just started delivering the first vehicles.
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