Rivian Preparing to IPO Next Week

Electric vehicle manufacturer Rivian is planning its initial public offering for next week, according to a regulatory filing.

The company is seeking a valuation of just over $60 billion. The automaker will trade on the Nasdaq Stock Market under the symbol RIVN. Rivian, which just recently started delivering its first vehicles, filed for the IPO in September.

In all, Rivian has raised about $10.5 billion since 2019 from several notable backers. In particular, Amazon has purchased 100,000 electric delivery vans from the company alongside a 20% stake in the automaker. Ford and Cox Automotive are also strategic investors.

Early reviews of Rivian’s R1T pickup have been very favorable. Once Rivian scales production of its pickup and R1S SUV it has plans to grow its product offering to range from delivery vans to trucks to smaller commuter vehicles.

The company is currently building trucks in a former Mitsubishi plant in Illinois. A second U.S. factory is reportedly planned in Arizona that would produce both cars and batteries.

 

[uujjj2]

There were rumors of $80B. But I think $60B is more reasonable. I'm more bullish on Lucid than on Rivian but I'll buy a few shares anyway.

 

[thesmokingman]

They should have pushed it back till they get their production issues sorted.

 

[MontyFloyd]

 

[Chisale]

$60 billion sounds reasonable to me and I wouldn't expect it to settle in on that number after the initial IPO gyrations. That would put it somewhere around 12th place for auto makers in terms of market cap, slightly ahead of Lucid. I'd say both companies will be good buy and hold investments.

 

[uujjj2]

They should have pushed it back till they get their production issues sorted.

Nah, you gotta make hay when the sun is shining. Ya don't wait for the bubble to pop before ya IPO.

 

[thesmokingman]

Nah, you gotta make hay when the sun is shining. Ya don't wait for the bubble to pop before ya IPO.

No doubt but I'm not sure its great timing. IPO and SPAC season has been on average pretty bad this year. And on top of that poor sentiment Rivian is having serious production delays.

 

[dipper]

$60 billion sounds reasonable to me and I wouldn't expect it to settle in on that number after the initial IPO gyrations. That would put it somewhere around 12th place for auto makers in terms of market cap, slightly ahead of Lucid. I'd say both companies will be good buy and hold investments.

I think I might give Rivian an edge. They got the Amazon business. Of course, their 2 automobiles.

And they could make RVs off their Amazon vans if they want to expand quickly. I think the cry has been there from potential customers.

 

[EchoDelta]

Expected IPO opening price estimate went up today from 57..63 to 72..74.

 

[MontyFloyd]

Expected IPO opening price estimate went up today from 57..63 to 72..74.

Probably due to Tesla phenomenon.

 

[RobDickinson]

Will it go down 12% now too?

That IPO price is steeper than a rivian can climb

 

[Venom21]

Projecting $125/share now after opening, CNBC also reporting that Amazon is buying more shares. Buckle up.

 

[dipper]

I saw the $125 too. That is crazy!

 

[thesmokingman]

Price is down to 105. I have a feeling it could tank on open. Take your time...

 

[thesmokingman]

How low can it go?

 

[Spacep0d]

Picked up 30 chairs at $98. I'll hold and see what happens, especially since TSLA is a little pricey but I'm still buying as much as I can.

 

[MontyFloyd]

Lots of excitement for Rivian, waiting to see its performance and production ability, but it good for world at large.

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