EV Makers With No Revenue Continue to Surge

Rivian Now World’s No. 3 Carmaker By Value As Post-IPO Stock Surge Rolls On

$Rivian Automotive, Inc.(RIVN)$, the best-funded electric vehicle startup in U.S. history, continued to gain stock market momentum days after its Nasdaq debut–so much so that the California company currently ranks as the world’s third most valuable automaker, topped only by Tesla and Toyota.

Shares of Rivian jumped about 15% to close at $149.36 on Monday. That pushed its market capitalization to $146.3 billion. The shares are up 38% since trading began on Nov. 10. The Amazon-backed startup, which only began building its battery-powered R1T pickup truck last month, won’t deliver many vehicles this year.

The electric-vehicle start-up Lucid reported its first earnings

$Lucid Group Inc(LCID)$ stock was up about 2% in after-hours trading, building on a gain of 2.2% during the regular session.

Lucid reported sales of about $232,000 and a loss of 43 cents a share, but the sale weren’t from vehicles delivered to customers. Shipments started after the quarter ended. The money came in from the use of Lucid’s battery-pack technology in the Formula E racing series.

Lucid said Monday that reservations for its debut EV have surpassed 17,000 after hitting 13,000 in the quarter ended Sept. 30. That represents an order book of more than $1.3 billion. While Lucid said it is “confident” of hitting its production goal for next year, the automaker acknowledged risks from ongoing disruptions to global supply chains, which it is taking steps to mitigate.

If there is a free stock for you, would you choose Lucid or Rivian? WHY?

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