Tuesday, December 7, 2021

Rivian Stock up 30% on first day of trading

Rivian is now listed on the Nasdaq Global Select Market under the ticker symbol RIVN. The Stock had quite an interesting day. The Company rallied up to $120 and then settled at abou $100 for the day.

Rivian Stock on its first day of trading

Rivian has not yet delivered a vehicle under its own brand to a customer as of today. Deliveries of the R1T e-pickup are expected to start soon, while Rivian has postponed the dates for the R1S e-SUV indefinitely for the time being. In addition to the pickups, which are in demand in the USA, the electric delivery vehicle is a priority for major customer and shareholder Amazon.

A few days ago it became known that Amazon now has a stake of around 20 per cent in Rivian. The total investment of the US online retailer in the electric car start-up is now said to amount to 1.345 billion US dollars.

In view of Amazon’s large order of 100,000 electric transporters from Rivian, new details about the vehicle data have only recently become public.

Rivian is headquartered in Irvine, California, and has a vehicle plant in Normal, Illinois, which was built by Mitsubishi and acquired by Rivian in 2017.

Rivian has announced its European launch for early 2022.

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Hi I'm Leanne. I'm a big fan of electric cars (drive a Model 3 myself) and support the movement to go electric! I hope you enjoy my Articles here on the website.
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