$Rivian Automotive, Inc.(RIVN)$,the EV automaker and automotive technology company is going to go public as soon as next week, and retail traders can get into the IPO on $SoFi Technologies Inc.(SOFI)$.
Rivian said it is offering 135 million shares priced between $57 and $62, putting valuation up to near $55 billion. And the company is backed by $Amazon.com(AMZN)$ and $Ford(F)$
So compared to $Lucid Group Inc(LCID)$ at the current price, is Rivian stock a better buy? My answer is definitely YES!
Lucid is trading at 60b market cap and just started delivering their first vehicles, and this helps to understand the potential value for Rivian. In fact, the market cap of Rivian will only be higher. A report in August pegged the company's value at around $80 billion, which is greater than the market cap of industry stalwart $General Motors(GM)$ .
Some Rivian's pickup truck designs are very innovative so that it can steal some of the truck market shares away from Ford truck owners. Actually Rivian vehicles are geared for those who don't need a truck, but don't mind having that bed space when they need it for travel and camping. After all, compared to the $170k luxury EV of Lucid, who will say no to Rivian's beautiful electric truck which only sells at around $70k?
Yeah, I agree that beauty is in the eye of the beholders, not the shareholders... Now that I've decided to get on board for Rivian after it goes public, do you guys think it looks good? 🤣 I see beauty anyway!
Finally, can $Lucid Group Inc(LCID)$ and $Rivian Automotive, Inc.(RIVN)$ surpass the EV leader $Tesla Motors(TSLA)$ to join the Trillion dollar club?
Well, if you ask me... they have to make Elon Musk their CEO first! 😂
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