Rivian Stock Price Forecast — 2022, 2023, 2024, 2025, 2030
According to the Economic Times, RIVN Stock price rose as much as 53% during the Nasdaq launch on Wednesday, giving the Amazon-backed electric car producer a valuation of more than $100 billion following what may be called the world’s biggest IPO this year.
The Rivian Automotive Inc Stock finished at $100.73, up around 30% from its original public offering price.
Having said that, Rivian Automotive Inc is now the second most valuable carmaker in the United States, coming before only Tesla Inc., which is worth more over $1 trillion. Rivian Automotive Inc outperformed General Motors Co., which also is valued at over $86 billion, Ford Motor Co., that is rated at over $77 billion, and Lucid Group, which again is valued at over than $65 billion regardless of the fact that the business has just recently began selling vehicles and has no income to disclose.
RIVN Stock price was significantly higher than Tesla’s when the electric vehicle maker launched its first public offering at a valuation of $1.7 billion.
Despite the fact that the SpaceX creator noted the challenges that Rivian Automotive Inc would experience, the Amazon-backed electric car maker plans to increase production to 150,000 vehicles per year by late 2023, up from a few hundred so far, according to Fortune.
However, other analysts feel that in order to justify present RIVN Stock price, it will have to increase output to ridiculous levels, based on Rivian Stock Price Forecast 2022, 2023, 2024, 2025, 2030.
Rivian Stock Price Forecast: What Is Rivian Automotive Inc
Rivian Automotive Inc is an electric car manufacturer, which founded in 2009. Rivian Automotive Inc is headquartered in California and has a manufacturing facility in Illinois.
As per Investopedia, Rivian Automotive Inc was founded by Robert Scaringe and competes with the well-known electric manufacturer Tesla. On August 27, the company filed for a secret initial public offering, that valued the electric car manufacturer at over $80 billion.
Furthermore, the freshly announced Tesla rival offers two vehicle variants to customers: the R1S SUV and the R1T pickup truck. The R1S shares the outward appearance of the Range Rover and rivals with Tesla’s Model X. The R1T, on the other hand, has a shorter flatbed than Ford’s best-selling pickup truck, the Ford 150.
As per InsideEVs.com, the Rivian R1S will offer around 240 and 410 miles of driving range between charges, based on the battery pack used, which would be significantly greater than the Tesla Model X, that only travels 237 to 295 miles. This simply implies that the R1S SUV may pose the greatest challenge to Tesla.
According to Rivian Automotive Inc’s website, the R1S and R1T will begin at $70,000 and go up to $90,000 for fully equipped models. Furthermore, the electric vehicle maker states that it has tens of thousands of bookings with a $1,000 deposit each vehicle.
On the other side, the Economic Times said that Amazon Inc., which is headed by Jeff Bezos, is RIVN Stock’s largest shareholder. The technological and online retailing giant controls 20% of the firm.
- Rivian Automotive Inc’s adventure begins with the delivery of 156 pickup trucks, practically all of which are for its employees. Despite the fact that the Rivian Automotive Inc Stock’s valuation temporarily reached $100 billion when the IPO was published on Wednesday, Rivian Automotive Inc has only just completed its first round of orders.
- The next BIG purchase is for digital giant Amazon, who will receive 100,000 delivery vehicles by 2025.
- However, the excitement surrounding Rivian Automotive Inc cannot be justified by its early orders. Nevertheless, increased fuel prices have recently led to an increase in interest in EVs. Second, Rivian Automotive Inc is supported by major corporations such as Amazon and Ford, who own 20% and 12% of the company, respectively. Amazon stated a $700 million funding round in Rivian Automotive Inc Stock in February 2019.
- Rivian Automotive Inc’s change in focus to pick up vehicles that look all American and have reduced fuel costs is a significant attraction.
- In addition, the Biden Administration seeks to transition as quickly as possible away from a fossil-fuel-based market in order to reduce greenhouse gas emissions and conform to the Paris Climate Agreement. Rivian Automotive Inc just emerged on the scene at the appropriate time with the perfect product to bring everyone together.
Rivian Stock Price Today
RIVN Stock price closed 5.66% higher at $ 129.95 on the last trading day, Friday.
Should I Buy Rivian Automotive Inc Stock Now?
Rivian Stock’s IPO will undoubtedly be a success and a model for these other EVs. Mary Barra, CEO of General Motors, stated that the Rivian IPO just demonstrated how undervalued her firm is. Because of political commitments and increasing gasoline prices, the market is turning to electric vehicles. Rivian Automotive Inc’s theme and motto are optimistic, with substantial sponsorship from the market’s major players. Everything appears to be in place for the firm, and individuals will undoubtedly be afraid of missing out if they do not participate right now.
However, in the case of hugely overrated IPOs, history tells a different tale. Following its initial public offering, Facebook’s stock dropped. LinkedIn started at $83 but could be purchased for as little as $63 a few months later. Even this year, Roblox was listed at $64.5, and it is only recently that it pushed further higher. So, drawing inference, blockbuster IPOs give a better opportunity to enter a few months later after all the volatility settles down.
Rivian Stock Price Forecast
- The RIVN Stock price for next 24 hours is expected to trade between $115 and $134, based on Rivian Stock Price Forecast
- The general advice for Rivian Stock is a ‘Buy’.
- Also, some Rivian Stock Price Forecast experts claimed that they would not buy Rivian Stock at current levels (Rivian Automotive Inc Stock).
- All investors hope Rivian Automotive Inc will be the next Tesla. However, as of now, the firm’s balance sheet shows nothing, with merely sample pieces supplied to staff.
- Industries in the United States are dealing with labor shortages and pay concerns. These problems will certainly appear when Rivian Automotive Inc begins mass-producing automobiles. It’ll be fascinating to see how Rivian Automotive Inc handles these concerns.
- Furthermore, the largest EV market is in China, and Rivian has yet to establish a production system outside the United States. The Chinese government’s attitude to Rivian’s development will have a significant influence on the Rivian Stock Price Forecast
- One other cloud is forming on Rivian Automotive Inc’s Laura Schwab, the firm’s previous Vice President of Sales and Marketing, is appealing, claiming that she was unlawfully fired after complaining about poisonous “bro culture” in the workplace. She also cautioned that the firm’s production objectives were “unachievable.”
- Rivian Automotive Inc has yet to deal with labor unions and various environmentalists as it expands into new cities. This will provide a challenge to the company’s business.