Could Buying Rivian Automotive Stock Today Set You Up for Life?
Rivian Automotive(RIVN) The Motley Fool·2024-10-20 00:30The EV maker's stock has fallen to nearly 90% below its IPO price.Rivian Automotive (RIVN -0.79%) attracted a stampede of bulls with its IPO on Nov. 9, 2021. The electric vehicle (EV) maker went public at $78 per share, and its stock opened at $106.75 before touching a record high of $172.01 just a week later.At that peak, Rivian's market cap hit $153 billion, which was 92 times higher than the revenue it would generate in 2022. It briefly made the tiny EV maker more valuable than Ford or General Motors. Ri ...