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RIVN Stock: Rivian’s the Latest ‘If You Build the EV, Will They Come?’ Story

Rivian Automotive (NASDAQ:RIVN) stock has already had a wild ride, as it starts mass production of an electric pick-up truck.

The back of a silver Rivian (RIVN) pick-up truck.

Source: Miro Vrlik Photography / Shutterstock.com

Shares opened at $78 on Nov. 10. This brought Rivian $12 billion in cash, Their value then took off in the first week of trading, peaking at $178 each on Nov. 16.

The shares fell back to earth when the company announced it was no longer working with Ford Motor (NYSE:F), which still owns 12% of the stock. Rivian stock closed last week at about $112, a fall of more than 30%. But Rivian still has a market capitalization nearing $100 billion.

The loser was Ford, a century-old auto giant. It’s now worth just $78.9 billion as it ramps up its own electric vehicle efforts. The fall in Rivian’s price also cut $3.6 billion off the value of Ford’s Rivian

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