Rivian Automotive Has No Income, No Sales, But A Market Cap Of $130 Billion

old car

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

Disclaimer: This article is designed to provide information. It is provided with the ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.