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 ...

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