If You'd Invested $150 in Rivian Stock 4 Years Ago, Here's How Much You'd Have Today

Rivian Automotive (NASDAQ: RIVN), a producer of electric vehicles, attracted a lot of attention when it went public in November 2021 at an IPO price of $78 per share. It opened trading at $106.75 and closed at its record high of $172.01 just a week later.Three tailwinds fueled that rally. First, Rivian generated a lot of buzz because it was backed by Amazon (NASDAQ: AMZN) and Ford Motor Company (NYSE: F). Second, it had already started mass-producing its first vehicles. Lastly, the buying frenzy around hypergrowth and meme stocks in late 2021 helped inflate its valuations.Image source: Rivian.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool