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Company Overview
Rivian Automotive, Inc. (RIVN) design, develop, and manufacture category defining EVs and accessories. The company markets its products directly to the customers in the consumer and commercial markets.
Initial Public Offering
The company had launched its IPO on November 10 under the ticker RIVN and had sold approximately 153 million shares at $78/share. We had covered this IPO in our ‘Kalkine IPO Report’ on November 08, 2021 and had concluded that this IPO was “Attractive” given its presence in the EV sector, aggressive growth outlook and large initials order from Amazon.
Price Chart (as on November 16, 2021). Source: REFINITIV, Analysis by Kalkine Group
Conclusion
Investors who have invested into this IPO can consider ‘Exiting’ from their position at the closing price of $172.01 as on November 16, 2021, given:
*The reference data in this report has been partly sourced from Refinitiv.
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