Rivian is currently the largest company in the US in terms of market value, with no revenue Automotive News

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Shares of Rivian Automotive rose 67 percent from its initial public offering price of $ 78 on Wednesday.
Who Bloomberg
Posted on November 12, 2021
Add another milestone to Rivian Automotive Inc.’s new and amazing work as a new stock: it is now the largest company in the U.S. in terms of market value, with no revenue.
Electric Truck Manufacturers, Amazon.com Inc. and sponsored by Ford Motor Co., Lucid Group Inc., the equivalent of an electric vehicle that has no sales on its behalf, has removed it from the top spot on the list.
Shares of Rivian rose 67% on Wednesday from an initial public offering price of $ 78. Volkswagen AG, one of the world’s largest car manufacturers, is just 25% above market value. Meanwhile, Lucid has raised its share price 339% this year. In July, the stock market went public through a merger with a white check company.
“(Seriously) it’s worrying when it still hasn’t made a significant income,” Michael Hewson, chief market analyst at CMC Markets, said of Rivian’s valuation.
Electric vehicles have been attracting investor interest since mid-2020, when governments, policymakers and corporations announced their intention to invest in the industry due to the growing need to tackle climate change. Tesla Inc. the recent strong results of industry leaders and a huge push from the Hertz car rental company have loaded all the shares in the space into electric vehicles.
Rivian’s rally for the third day in a row boosted its market value to manufacturer Mercedes-Benz’s Daimler AG on Friday, after beating Ford and General Motors Co.’s market valuations for the past two days.
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