Rivian opened today at over $100k per share. The company is currently valued at close to $100 billion. That's insane. They were founded in 2009 and have only last month started to ship vehicles to customers.
One thing helping them is the increase in the Democrats EV proposal, currently part of Biden's Build Back Better program. Dems raised the price cap on eligible SUVs and Trucks to vehicles priced up to $80k. The Rivian SUV base price is $70k, which up till now was too high to get the $7500-$12000 federal credit.
I think this helped their stock today
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