Rivian goes public

Written By Derek Weber

Electric vehicle start-up Rivian went public today on the Nasdaq under the ticker symbol RIVN, becoming one of the largest IPOs in U.S. history. The stock soared more than 26% and began trading at $106.75 per share, giving a market valuation of $91 billion, already higher than Ford and General Motors.

Amazon has ordered 100,000 Rivian vehicles to be delivered by 2030 and its 20% stake is now worth about $17 billion. Ford’s 12% stake is valued at over $10 billion.

Derek Weber
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