Some Thoughts About The Craziest IPO I've Seen (Rivian)Rivian is worth over $100 billion at the time of this writing. That's a lot of money.
BTW, they don't generate any revenue. Actually in their press releases they write that on any given quarter, they expect to generate $0 – $1 million in revenue. But never over $1 million. No more than $1 million.
From my research and understanding they are the first pre-revenue company to be worth $100 billion.
I get it - EVs are hot. And they are backed by Amazon and some Saudi money. Maybe they have an awesome roadmap. But my goodness, at $100B they basically need to be flawless in execution. It took Tesla some 10+ years to get to where it is and A LOT of controversy.
I have no position and don't plan on having one. It makes no sense to me. So best to stay away. Writing this down just for fun and to see what others think.
The chart I attached above is a 30-minute chart of Rivian since its IPO, which happened this week. Thanks for reading!
