Waiting for the IPO to go live it finally opened at $78 and ended the day at $100.73 which valued the company at over $86Billion.

Rivian is an electric vehicle maker of mainly SUVs and trucks and was founded in 2009 by Robert ‘RJ’ Scaringe. With very few Rivian cars on the market this is a company that is just starting out in their production model so the future of this company relies on them meeting deliveries and actually creating a car that competes with industry giants Tesla and other EV makers such as NIO and Lucid.

Buying stock in Rivian is risky and one where we should keep position sizes small and to expect lots of downturns along the way. For a $86Billion value company they have estimates of $0-$1Million for Q3 trading.

The future is bright thanks to Jeff Bezos and Amazon who have backed Rivian by securing a deal for them to deliver 100,000 electric delivery vehicles by 2030 with the first 10,000 to be completed by the end of 2023.

Rival car maker Ford also backed Rivian by purchasing 12% of their company through equity and bond investments. This is a crazy move from a competitor who is also developing their own range of EV SUVs but that’s what makes this stock so HOT. There is obviously some tech Rivian has that Ford does not and this helps them secure the use of it in the future.