Autos

Rivian shares rise in post-IPO rally

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Rivian employees stand beside the new all-electric pickup truck by Rivian, the R1T, as it sits at one of its facilities on November 09, 2021 in the Brooklyn borough of New York City.

Spencer Platt | Getty Images

Rivian shares continued to rally less than a week after the company went public in one of the biggest IPOs of the year. The stock rose more than 10% after markets opened. It was up about 9% midday Tuesday.

It’s a sign that investors are still bullish on the Tesla rival backed by Amazon and Ford.

Rivian opened at $106.75 per share on its first trading day, Nov. 10. At that price, it was already worth more than traditional automakers like Ford and General Motors.

Amazon has already…



Source cnbc.com

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