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Rivian Leaps Past
Volkswagen’s Valuation as EV Mania Rages
EV startup’s five-day gain helps stock double
IPO price Rivian’s value now bigger than Goldman, Boeing, Caterpillar
A five-day rally
in the shares of Rivian Automotive Inc. has led the electric-truck startup to more than double in value
since last-week’s trading debut, with its market capitalization now surpassing Volkswagen AG.
The stock jumped as much as 14% to $169.70 in New York on Tuesday, up 118% from the initial public
offering price of $78. That brought the company’s market valuation to about $150 billion, making Rivian
the largest U.S. company with zero revenue.
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