Rivian Stock Keeps on Trucking. Why the ‘Rivian Effect’ Could Put a Dent in Tesla.

InvestorPlace2021-11-17

Shares ofall-electric pickup truck maker Rivian Automotive (NASDAQ:RIVN) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a ...

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精彩评论

SKan
2021-11-19
SKan
Rivian share price will be reached soon like Tesla but you have to invest and wait for some time.
- 我想做个有钱人:
  对呀，tsla也跌到过500,还不是回来了
- 不死传说:
  Patient is the key word in the stock market
FlareSpark
2021-11-17
FlareSpark
Tesla will be so dented with many competitors launching their EV
NPC69
2021-11-17
NPC69
K
5949571c
2021-11-17
5949571c
Ok
- 5949571c:
  Ok

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After pricing at $78, RIVN stock now trades at $172 per share — a ...</p>\n\n<a href=\"https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/\">网页链接</a>\n\n</div>\n","source":"lsy1606302653667","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Stock Keeps on Trucking. 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Why the ‘Rivian Effect’ Could Put a Dent in Tesla.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-17 20:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares ofall-electric pickup truck maker Rivian Automotive (NASDAQ:RIVN) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a ...</p>\n\n<a href=\"https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/","article_id":"1140451800","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1140451800","pubTimestamp":1637151141,"columns":[],"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"RIVN stock is making extreme EV valuations look mainstream","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"Rivian股票继续卡车运输。为什么“Rivian效应”会削弱泰斯拉。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RIVN":0.9,"TSLA":0.9},"content_text":"Shares ofall-electric pickup truck maker Rivian Automotive (NASDAQ:RIVN) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a spectacular 120% gain. Sporting a $152 billion market capitalization, Rivian is the biggest initial public offering (IPO) of the year. It’s alsothe world’s third-most valuable automaker by market cap, topped only by Tesla(NASDAQ:TSLA) and Toyota(NYSE:TM), which are valued at $1 trillion and $260 billion, respectively.\nIf Rivian’s stellar debut wasn’t eye-opening enough, here’s another record: Rivian is the first to go public at a $100 billion-plus valuation with no revenue. Untilthe quarterly period ended Sept. 30, the company had not produced or delivered any vehicles.\nHowever, none of this is bothering investors. In fact, yesterday’s gain in RIVN stock alone equates to over $15 billion in market value — more than the combined market caps of other electric vehicle (EV) upstarts Nikola(NASDAQ:NKLA),Fisker(NYSE:FSR),Lordstown Motors(NASDAQ:RIDE) and Workhorse(NASDAQ:WKHS).\nIf you’re on the right side of the recent momentum in EV stocks, congratulations. It has been a great ride. But the question you should be asking now is this: how long will EV stocks keep on trucking?\nThe best place to start is to examine ‘the Rivian effect’ on the bellwether of the EV space: Tesla. So far, neither Rivian or any EV upstart has put a dent in the giant’s revenue growth. While both companies make electric vehicles, Rivian’s niche is all-terrain vehicles whereas Tesla focuses on sedans and SUVs.\nBut the Rivian effect isn’t about competition. It’s about a potential shift in institutional money — a flow out of TSLA stock and into other legitimate alternatives. If investors start to view RIVN stock has the next EV growth pick, large outflows could put pressure on TSLA. Here’s a closer look.\nRIVN Stock and ‘The Rivian Effect’\nFounded in 2009, Rivian had initially filed to offer shares in the range of $57 to $62. It later raised that range to between $72 and $74.Now, RIVN stock trades at a whopping $152 billion market cap, having scorched the $80 billion implied valuation considered for thepre-IPO company back in September. And if that’s not enough, with $11.9 billion in IPO proceeds, it is also one of the best-funded EV startups in U.S. history.\nRivian —whose backers include Amazon(NASDAQ:AMZN) and Ford(NYSE:F) —only began building its R1T pickup truck recently. As such, the company will only deliver a handful of vehicles this year.To date, customers have pre-ordered Rivian trucks, but these ‘sales’ consist only of small down payments. Amazon is the company’s first commercial customer, having already placed an order, subject to change, for 100,000 vehicles.\nIf we’ve learned anything about the EV space, however, it’s that investors don’t care about revenue or earnings right now. EV stocks continue to trend upward. Future potential is the only thing that matters to investors. This sentiment was also clearly echoed after the recent earnings results from EV upstart Lucid Group(NASDAQ:LCID). LCID stock is trading up nearly 24% on Nov. 16 on the Rivian effect as well as enthusiasm for deliveries. After a 130% rise for the past month, the continued climb is clearly counterintuitive to the sell-the-news scenario we’d typically see on a lackluster report.\nChoices, Choices\nSeveral EV makers have come to market via special purpose acquisition companies (SPACs). Institutional investors tend to view SPACs as more speculative early-stage investments.But RIVN stock’s well-capitalized traditional IPO has generated a lot of interest among large mutual funds.\nRivian’s valuation makes it a legitimate option for institutional investors looking for another large, liquid EV stock besides TSLA.Many observers also see Rivian as a beneficiary of greater U.S. government support for EVs in the newly signed infrastructure bill, as well as greater financial incentives to get consumers to switch to electric cars and trucks.\nIf significant institutional money flows out of TSLA, those large sales would negatively impact the stock price. Moreover, with Tesla being the fifth-largest stock in the S&P 500— accounting for about 2% — a shift in money flow could also have a significant impact on the index.\nIt’s worth watching to see what, if anything, happens to Tesla’s valuation as more EV companies gain traction. Since Rivian’s IPO, TSLA shares have held steady — the exception being volatility related to CEO Elon Musk’s sales of company stock. Ford, which owns a nearly 12% stake in Rivian, has similarly held steady over the course of RIVN’s initial trading.\nWhat Is RIVN Stock Really Worth?\nSo far, TSLA and the rest of the EV sector appear unaffected by Rivian’s IPO success. But the potential danger here is that EV valuations are following a model that isn’t sustainable. For example, if Tesla is correctly valued at $1 trillion and Rivian is correctly valued at $100 billion, a company like Polestar(NASDAQ:GGPI) looks cheap with a current pro forma equity value of around $27 billion.\nWe don’t have any projected numbers for Rivian since the company went public through a traditional IPO and can’t provide forward projections. However, based on the company’s production plans, analysts sayRivian could do $10 billion in 2023 sales. That would give RIVN stock a multiple of about 15 times estimated sales. This multiple also makes Rivian as expensive as Tesla, which similarly trades for roughly 12 times estimated 2023 salesof $89.5 billion.\nBullish investors will argue that Rivian deserves a Tesla multiple. But revenue growth is just one metric investors will be looking at in order to justify the stock’s valuation. As Musk himself has pointed out, there are considerable risks ahead for new EV makers. The first is getting to full commercial volume production; the second, generating positive cash flow and earnings.\nThe Rivian effect — that is, making extreme valuations look mainstream — should give fundamentals-oriented investors some pause.The bottom line? It’s too early to know what’s the right multiple to pay for Rivian or any of these EV stocks.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":876190804,"gmtCreate":1637279246648,"gmtModify":1637279246648,"author":{"id":"4097834870257080","authorId":"4097834870257080","name":"SKan","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"4097834870257080","authorIdStr":"4097834870257080"},"htmlText":"Rivian share price will be reached soon like Tesla but you have to invest and wait for some time.&nbsp;","listText":"Rivian share price will be reached soon like Tesla but you have to invest and wait for some time.&nbsp;","text":"Rivian share price will be reached soon like Tesla but you have to invest and wait for some time.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/876190804","repostId":1140451800,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6636386,"gmtCreate":1637280989133,"gmtModify":1637280989231,"authorId":3576020019895846,"author":{"id":3576020019895846,"idStr":"3576020019895846","authorId":3576020019895846,"name":"我想做个有钱人","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876190804,"type":1,"supId":0,"prevId":0,"content":"对呀，tsla也跌到过500,还不是回来了","text":"对呀，tsla也跌到过500,还不是回来了","html":"对呀，tsla也跌到过500,还不是回来了"},{"id":6636091,"gmtCreate":1637280204050,"gmtModify":1637280204158,"authorId":4094447232177560,"author":{"id":4094447232177560,"idStr":"4094447232177560","authorId":4094447232177560,"name":"不死传说","avatar":"https://static.tigerbbs.com/022318c76d3a9acc252fccc96f786ec5","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":876190804,"type":1,"supId":0,"prevId":0,"content":"Patient is the key word in the stock market","text":"Patient is the key word in the stock market","html":"Patient is the key word in the stock market"}],"langContent":"CN"},{"id":878102550,"gmtCreate":1637156697470,"gmtModify":1637156697676,"author":{"id":"3584955097359320","authorId":"3584955097359320","name":"FlareSpark","avatar":"https://static.tigerbbs.com/38942f5d417a8d645800903b08402b4e","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3584955097359320","authorIdStr":"3584955097359320"},"htmlText":"Tesla will be so dented with many competitors launching their EV","listText":"Tesla will be so dented with many competitors launching their EV","text":"Tesla will be so dented with many competitors launching their EV","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/878102550","repostId":1140451800,"repostType":4,"repost":{"id":"1140451800","kind":"news","pubTimestamp":1637151141,"share":"https://www.laohu8.com/m/news/1140451800?lang=&edition=full","pubTime":"2021-11-17 20:12","market":"us","language":"en","title":"Rivian Stock Keeps on Trucking. Why the ‘Rivian Effect’ Could Put a Dent in Tesla.","url":"https://stock-news.laohu8.com/highlight/detail?id=1140451800","media":"InvestorPlace","summary":"RIVN stock is making extreme EV valuations look mainstream","content":"<p>Shares ofall-electric pickup truck maker&nbsp;<b>Rivian Automotive</b>&nbsp;(NASDAQ:<b><u>RIVN</u></b>) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a spectacular 120% gain. Sporting a $152 billion market capitalization, Rivian is the biggest initial public offering (IPO) of the year. It’s alsothe world’s third-most valuable automaker by market cap, topped only by&nbsp;<b>Tesla</b>(NASDAQ:<b><u>TSLA</u></b>) and&nbsp;<b>Toyota</b>(NYSE:<b><u>TM</u></b>), which are valued at $1 trillion and $260 billion, respectively.</p>\n<p>If Rivian’s stellar debut wasn’t eye-opening enough, here’s another record: Rivian is the first to go public at a $100 billion-plus valuation with no revenue. Untilthe quarterly period ended Sept. 30, the company had not produced or delivered any vehicles.</p>\n<p>However, none of this is bothering investors. In fact, yesterday’s gain in RIVN stock alone equates to over $15 billion in market value — more than the combined market caps of other electric vehicle (EV) upstarts&nbsp;<b>Nikola</b>(NASDAQ:<b><u>NKLA</u></b>),<b>Fisker</b>(NYSE:<b><u>FSR</u></b>),<b>Lordstown Motors</b>(NASDAQ:<b><u>RIDE</u></b>) and&nbsp;<b>Workhorse</b>(NASDAQ:<b><u>WKHS</u></b>).</p>\n<p>If you’re on the right side of the recent momentum in EV stocks, congratulations. It has been a great ride. But the question you should be asking now is this: how long will EV stocks keep on trucking?</p>\n<p>The best place to start is to examine ‘the Rivian effect’ on the bellwether of the EV space: Tesla. So far, neither Rivian or any EV upstart has put a dent in the giant’s revenue growth. While both companies make electric vehicles, Rivian’s niche is all-terrain vehicles whereas Tesla focuses on sedans and SUVs.</p>\n<p>But the Rivian effect isn’t about competition. It’s about a potential shift in institutional money — a flow out of TSLA stock and into other legitimate alternatives. If investors start to view RIVN stock has the next EV growth pick, large outflows could put pressure on TSLA. Here’s a closer look.</p>\n<p><b>RIVN Stock and ‘The Rivian Effect’</b></p>\n<p>Founded in 2009, Rivian had initially filed to offer shares in the range of $57 to $62. It later raised that range to between $72 and $74.Now, RIVN stock trades at a whopping $152 billion market cap, having scorched the&nbsp;$80 billion implied valuation&nbsp;considered for thepre-IPO company back in September. And if that’s not enough, with $11.9 billion in IPO proceeds, it is also one of the best-funded EV startups in U.S. history.</p>\n<p>Rivian —whose backers include&nbsp;<b>Amazon</b>(NASDAQ:<b><u>AMZN</u></b>) and&nbsp;<b>Ford</b>(NYSE:<b><u>F</u></b>) —only began&nbsp;building&nbsp;its R1T pickup truck recently. As such, the company will only deliver a handful of vehicles this year.To date, customers have pre-ordered Rivian trucks, but these ‘sales’ consist only of small down payments. Amazon is the company’s first commercial customer, having already placed an order, subject to change, for&nbsp;100,000 vehicles.</p>\n<p>If we’ve learned anything about the EV space, however, it’s that investors don’t care about revenue or earnings right now. EV stocks continue to trend upward. Future potential is the only thing that matters to investors. This sentiment was also clearly echoed after the&nbsp;recent earnings results&nbsp;from EV upstart&nbsp;<b>Lucid Group</b>(NASDAQ:<b><u>LCID</u></b>). LCID stock is trading up nearly 24% on Nov. 16 on the Rivian effect as well as enthusiasm for deliveries. After a 130% rise for the past month, the continued climb is clearly counterintuitive to the sell-the-news scenario we’d typically see on a lackluster report.</p>\n<p><b>Choices, Choices</b></p>\n<p>Several EV makers have come to market via special purpose acquisition companies (SPACs). Institutional investors tend to view SPACs as more speculative early-stage investments.But RIVN stock’s well-capitalized traditional IPO has generated a lot of interest among large mutual funds.</p>\n<p>Rivian’s valuation makes it a legitimate option for institutional investors looking for another large, liquid EV stock besides TSLA.Many observers also see Rivian as a beneficiary of greater U.S. government support for EVs in the&nbsp;newly signed infrastructure bill, as well as greater financial incentives to get consumers to switch to electric cars and trucks.</p>\n<p>If significant institutional money flows out of TSLA, those large sales would negatively impact the stock price. Moreover, with Tesla being the fifth-largest stock in the&nbsp;<b>S&amp;P 500</b>— accounting for about 2% — a shift in money flow could also have a significant impact on the index.</p>\n<p>It’s worth watching to see what, if anything, happens to Tesla’s valuation as more EV companies gain traction. Since Rivian’s IPO, TSLA shares have held steady — the exception being volatility related to CEO Elon Musk’s&nbsp;sales of company stock. Ford, which owns a nearly 12% stake in Rivian, has similarly held steady over the course of RIVN’s initial trading.</p>\n<p><b>What Is RIVN Stock Really Worth?</b></p>\n<p>So far, TSLA and the rest of the EV sector appear unaffected by Rivian’s IPO success. But the potential danger here is that EV valuations are following a model that isn’t sustainable. For example, if Tesla is correctly valued at $1 trillion and Rivian is correctly valued at $100 billion, a company like&nbsp;<b>Polestar</b>(NASDAQ:<b><u>GGPI</u></b>) looks cheap with a current pro forma equity value of around $27 billion.</p>\n<p>We don’t have any projected numbers for&nbsp;Rivian&nbsp;since the company went public through a traditional IPO and can’t provide forward projections. However, based on the company’s production plans, analysts sayRivian could do&nbsp;$10 billion in 2023 sales. That would give RIVN stock a multiple of about 15 times estimated sales. This multiple also makes Rivian as expensive as Tesla, which similarly trades for roughly 12 times estimated 2023 salesof $89.5 billion.</p>\n<p>Bullish investors will argue that Rivian deserves a Tesla multiple. But revenue growth is just one metric investors will be looking at in order to justify the stock’s valuation. As Musk himself has pointed out, there are considerable risks ahead for new EV makers. The first is getting to full commercial volume production; the second, generating positive cash flow and earnings.</p>\n<p>The Rivian effect — that is, making extreme valuations look mainstream — should give fundamentals-oriented investors some pause.The bottom line? It’s too early to know what’s the right multiple to pay for Rivian or any of these EV stocks.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Stock Keeps on Trucking. Why the ‘Rivian Effect’ Could Put a Dent in Tesla.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian Stock Keeps on Trucking. Why the ‘Rivian Effect’ Could Put a Dent in Tesla.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-17 20:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares ofall-electric pickup truck maker Rivian Automotive (NASDAQ:RIVN) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a ...</p>\n\n<a href=\"https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc."},"source_url":"https://investorplace.com/2021/11/rivn-stock-keeps-on-trucking-why-rivian-effect-could-dent-tesla/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140451800","content_text":"Shares ofall-electric pickup truck maker Rivian Automotive (NASDAQ:RIVN) continue to soar on the heels of a spectacular first week. After pricing at $78, RIVN stock now trades at $172 per share — a spectacular 120% gain. Sporting a $152 billion market capitalization, Rivian is the biggest initial public offering (IPO) of the year. It’s alsothe world’s third-most valuable automaker by market cap, topped only by Tesla(NASDAQ:TSLA) and Toyota(NYSE:TM), which are valued at $1 trillion and $260 billion, respectively.\nIf Rivian’s stellar debut wasn’t eye-opening enough, here’s another record: Rivian is the first to go public at a $100 billion-plus valuation with no revenue. Untilthe quarterly period ended Sept. 30, the company had not produced or delivered any vehicles.\nHowever, none of this is bothering investors. In fact, yesterday’s gain in RIVN stock alone equates to over $15 billion in market value — more than the combined market caps of other electric vehicle (EV) upstarts Nikola(NASDAQ:NKLA),Fisker(NYSE:FSR),Lordstown Motors(NASDAQ:RIDE) and Workhorse(NASDAQ:WKHS).\nIf you’re on the right side of the recent momentum in EV stocks, congratulations. It has been a great ride. But the question you should be asking now is this: how long will EV stocks keep on trucking?\nThe best place to start is to examine ‘the Rivian effect’ on the bellwether of the EV space: Tesla. So far, neither Rivian or any EV upstart has put a dent in the giant’s revenue growth. While both companies make electric vehicles, Rivian’s niche is all-terrain vehicles whereas Tesla focuses on sedans and SUVs.\nBut the Rivian effect isn’t about competition. It’s about a potential shift in institutional money — a flow out of TSLA stock and into other legitimate alternatives. If investors start to view RIVN stock has the next EV growth pick, large outflows could put pressure on TSLA. Here’s a closer look.\nRIVN Stock and ‘The Rivian Effect’\nFounded in 2009, Rivian had initially filed to offer shares in the range of $57 to $62. It later raised that range to between $72 and $74.Now, RIVN stock trades at a whopping $152 billion market cap, having scorched the $80 billion implied valuation considered for thepre-IPO company back in September. And if that’s not enough, with $11.9 billion in IPO proceeds, it is also one of the best-funded EV startups in U.S. history.\nRivian —whose backers include Amazon(NASDAQ:AMZN) and Ford(NYSE:F) —only began building its R1T pickup truck recently. As such, the company will only deliver a handful of vehicles this year.To date, customers have pre-ordered Rivian trucks, but these ‘sales’ consist only of small down payments. Amazon is the company’s first commercial customer, having already placed an order, subject to change, for 100,000 vehicles.\nIf we’ve learned anything about the EV space, however, it’s that investors don’t care about revenue or earnings right now. EV stocks continue to trend upward. Future potential is the only thing that matters to investors. This sentiment was also clearly echoed after the recent earnings results from EV upstart Lucid Group(NASDAQ:LCID). LCID stock is trading up nearly 24% on Nov. 16 on the Rivian effect as well as enthusiasm for deliveries. After a 130% rise for the past month, the continued climb is clearly counterintuitive to the sell-the-news scenario we’d typically see on a lackluster report.\nChoices, Choices\nSeveral EV makers have come to market via special purpose acquisition companies (SPACs). Institutional investors tend to view SPACs as more speculative early-stage investments.But RIVN stock’s well-capitalized traditional IPO has generated a lot of interest among large mutual funds.\nRivian’s valuation makes it a legitimate option for institutional investors looking for another large, liquid EV stock besides TSLA.Many observers also see Rivian as a beneficiary of greater U.S. government support for EVs in the newly signed infrastructure bill, as well as greater financial incentives to get consumers to switch to electric cars and trucks.\nIf significant institutional money flows out of TSLA, those large sales would negatively impact the stock price. Moreover, with Tesla being the fifth-largest stock in the S&P 500— accounting for about 2% — a shift in money flow could also have a significant impact on the index.\nIt’s worth watching to see what, if anything, happens to Tesla’s valuation as more EV companies gain traction. Since Rivian’s IPO, TSLA shares have held steady — the exception being volatility related to CEO Elon Musk’s sales of company stock. Ford, which owns a nearly 12% stake in Rivian, has similarly held steady over the course of RIVN’s initial trading.\nWhat Is RIVN Stock Really Worth?\nSo far, TSLA and the rest of the EV sector appear unaffected by Rivian’s IPO success. But the potential danger here is that EV valuations are following a model that isn’t sustainable. For example, if Tesla is correctly valued at $1 trillion and Rivian is correctly valued at $100 billion, a company like Polestar(NASDAQ:GGPI) looks cheap with a current pro forma equity value of around $27 billion.\nWe don’t have any projected numbers for Rivian since the company went public through a traditional IPO and can’t provide forward projections. However, based on the company’s production plans, analysts sayRivian could do $10 billion in 2023 sales. That would give RIVN stock a multiple of about 15 times estimated sales. This multiple also makes Rivian as expensive as Tesla, which similarly trades for roughly 12 times estimated 2023 salesof $89.5 billion.\nBullish investors will argue that Rivian deserves a Tesla multiple. But revenue growth is just one metric investors will be looking at in order to justify the stock’s valuation. As Musk himself has pointed out, there are considerable risks ahead for new EV makers. The first is getting to full commercial volume production; the second, generating positive cash flow and earnings.\nThe Rivian effect — that is, making extreme valuations look mainstream — should give fundamentals-oriented investors some pause.The bottom line? It’s too early to know what’s the right multiple to pay for Rivian or any of these EV stocks.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":878323934,"gmtCreate":1637151789218,"gmtModify":1637151789386,"author":{"id":"3584779133668268","authorId":"3584779133668268","name":"NPC69","avatar":"https://static.tigerbbs.com/47e7ac55312ae8dd1c9e7cb92adad089","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3584779133668268","authorIdStr":"3584779133668268"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/878323934","repostId":1140451800,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":878367748,"gmtCreate":1637151430626,"gmtModify":1637151430678,"author":{"id":"4090385848895520","authorId":"4090385848895520","name":"5949571c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4090385848895520","authorIdStr":"4090385848895520"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/878367748","repostId":1140451800,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":6615034,"gmtCreate":1637151435775,"gmtModify":1637151435800,"authorId":4090385848895520,"author":{"id":4090385848895520,"idStr":"4090385848895520","authorId":4090385848895520,"name":"5949571c","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":878367748,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":37,"commentSize":4,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.30.0","shortVersion":"4.30.0","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1140451800"}