by Fred Fuld III
Rivian Automotive (RIVN) just went public a week ago, and since then, the stock has been up every day until today. As I write this, the market cap for the company is $130 billion. That’s “billion” with a B.
This California based company was founded in 2009 and is in the business of developing electric vehicles.
For the trailing twelve months, net income has been a negative $1,635,000,000.
Revenues for the company have been zero.
Yesterday, the market cap for the company was $151.9 Billion.
That market cap is larger than all of the following automobile manufacturers:
- Ford (F)
- General Motors (GM)
- Honda Motor (HMC)
- Nissan Motor (NSANY)
- Daimler (DDAIF)
- BMW Bayerische Motoren Werke (BMWYY)
- Volkswagen (VWAGY)
- Porsche Automobil (POAHY)
I wonder if Ford stopped making cars if it would increase the market cap of the company.
Disclosure: Author owns F and DDAIF. Author has a vertical call position on RIVN.