By: Diane Benjamin
I get Google alerts on lots of things, one being Rivian
This one came in this morning:
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It’s hard not to burst out laughing at that headline. Investing.com must have received lots of negative comments, the link to the story now doesn’t work.
Just to refresh your memory, this site shows on 11/8/21 the stock sold for $129.95. I remember it opening even higher, but this chart doesn’t show that: Quote Rivian
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I hear Pritzker is out declaring victory for State investments in Rivian. How does he explain this story: Rivian-Market-Cap-Decline/
Rivian once valued at $150 billion now at $20 billion
How many employees are employed at Rivian in Normal? Last I heard the most was 8000. Some media sources are claiming 10,000. Which is right?
How many are H1B visa or Green Card holders?
After the IPO it went above 178 briefly then fell back. Common for IPOs to have a run up and a fall. It was over 22 within the last 6 months. If you got in under $10 you are doing well. The company has some great prospects for their software stack (which VW has invested in). They have other technologies they are developing as well. I was pessimistic at first but I think they have great prospects for the future. Still a relatively small market cap at 24B.
It’s only costing Illinois taxpayers $827 million or more over 30 years for gloating about Rivian.