What Rivian Automotive Inc. is All About?
Rivian Automotive Inc. was really established in 2009 under the name Mainstream Motors. Although the company's name has changed over the years in accordance with circumstances, its goal and motivation remain the same, namely to satisfy customers.
Speaking of the same, the business was initially set up with a focus on producing sports utility vehicles. Rivian Automotive Inc.'s goal changed to producing autonomous and electric automobiles in response to market demands. In order to execute their goal successfully, they developed difficult terrain and semi-autonomous vehicles in 2017. The product was first given the names A1T and A1C, but these names were eventually changed to R1T and R1S, respectively.
The business now plans to produce completely autonomous electric cars that deliver the thrill of driverless driving. The Rivian, which entered the EV market first, is currently meeting consumer demand by supplying an electric seven-passenger SUV and a five-passenger pickup truck.
Rivian IPO Stock Price
Since Robert "RJ" Scaringe founded the company, it has accomplished notable milestones. The company launched its IPO not too long ago; on November 10, 2021, it became a publicly traded company. The business raised $13.5 billion in USD on the day it went public through an IPO. With a market of $100 billion USD, it outperformed Tesla and numerous other automakers.
The actual share price at which the company's shares were made available was $78.00. Surprisingly, the price of each Rivian share increased to a promising—and accurate—$100.73. At that moment, the market was bullish. It was anticipated that the share price of the corporation will surpass $500 in the near future. Additionally, in the upcoming years, analysts and experts predicted that the company's shares will be worth $1,000 each.
Rivian's price, however, dropped significantly, creating a bear market for the business for several months. Speaking of the same, the price of Rivian Stock was weighed down by a number of variables.Rivian Stock Fundamentals
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Company Name |
Rivian Automotive Inc. |
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CEO/Founder |
R. J. Scaringe |
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Official Website |
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Headquarter |
Irvine, California, U.S |
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Market Cap |
30.831B |
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Enterprise Value |
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52 Week High |
$179.47 |
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52 Week Low |
$19.25 |
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S&P500 52-Week Change |
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Price/Sales (TTM) |
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Price/Book (MRQ) |
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Enterprise Value/Revenue |
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Enterprise Value/EBITDA |
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50/200 Day Moving Average |
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