Rivian is the newest player in the electric vehicle market, and boy did it make an entrance.
Check out demand and happiness compared to peers in the last 90 days...
The company made its public debut November 10, trading under the symbol RIVN on the Nasdaq. Initial shares were priced at $78 but opened +50% higher, just above $106.
This upward trajectory is continuing today, with shares trading more than 17% higher vs. yesterday's close.
But who is this company, and does data support this extremely high (and growing) valuation?
Let's break it down.
At first glance, Rivian is positioning itself very differently vs. the other top player in the EV game: Tesla.
Tesla is a luxury vehicle first (with cool doors and a unique design) and the brainchild of a captivating CEO, Elon Musk, second. The electric nature of Tesla is certainly a selling point with consumers, but it's not necessarily top of mind.
Rivian, in contrast, is positioning itself to "solve problems undermining the health of our planet and its inhabitants."
Its vehicle line-up is adventure-worthy, featuring a truck and SUV, and its imagery is shrouded in views of trees and mountains and families hiking.
Its company "about us" doesn't even feature a picture of a vehicle.
Talk about a different vibe.
While Rivian has nailed down its brand image, it still has some things to work out when it comes to actual electric vehicle sales.