{"id":17887,"date":"2021-11-11T10:19:58","date_gmt":"2021-11-11T18:19:58","guid":{"rendered":"https:\/\/marketdepth.com\/?p=17887"},"modified":"2021-11-17T09:21:22","modified_gmt":"2021-11-17T17:21:22","slug":"rivian-automotive-is-now-one-of-the-largest-ipos-ever","status":"publish","type":"post","link":"https:\/\/marketdepth.com\/rivian-automotive-is-now-one-of-the-largest-ipos-ever\/","title":{"rendered":"Rivian Automotive is Now One of the Largest IPOs Ever"},"content":{"rendered":"\n
Rivian Automotive, Inc. (NASDAQ: RIVN) is now one of the largest initial public offerings in history. The shares of the new innovative electric car company have started trading Yesterday (November 10th<\/sup>) at around $78 per share, which made the overall valuation worth nearly $80 billion. As of Thursday morning, RIVN was trading at $120, with an impressive market cap of $116 billion.\u00a0<\/p>\n\n\n\n According to a report by Bloomberg<\/a>, Rivian is now the sixth largest IPO ever on the stock market. A lot of the company\u2019s early success is the result of good timing. Tesla has managed to generate a lot of interest in recent years, and has achieved major accomplishments in manufacturing and deliveries. As a result of Tesla\u2019s success, other companies can try and duplicate the model and compete in a new growing industry.\u00a0<\/p>\n\n\n\n Rivian only just recently started to make and ship its first electric pickup trucks.\u00a0<\/p>\n\n\n\n Rivian indicated in its prospectus that it has a backlog of 55,400 pre-orders for the two available models, R1T and R1S. Rivian also indicated that it expects to fill the orders by end of 2023.\u00a0<\/p>\n\n\n\n According to data provided by CNBC<\/a>, Amazon, which invested more than $1.3 billion into Rivian, owned 22.4% of the company\u2019s Class A shares prior to the IPO. That stake is worth about $12.5 billion at the offer price. Ford owned 14.4% of Class A stock before the offering, a stake now valued at $8 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"Rivian Automotive, Inc. (NASDAQ: RIVN) is now one of the largest initial public offerings in history. The shares of the new innovative electric car company have started trading Yesterday (November 10th) at around $78 per share, which made the overall valuation worth nearly $80 billion. As of Thursday morning, RIVN was trading at $120, with… View Article<\/a>","protected":false},"author":3,"featured_media":17888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,11,7,16],"tags":[],"acf":[],"yoast_head":"\n6th Largest IPO<\/h5>\n\n\n\n
Only Started Delivering Trucks<\/h5>\n\n\n\n
Back Orders to be Filled by End of 2023<\/h5>\n\n\n\n
Amazon and Ford Receive Large Returns<\/h5>\n\n\n\n