Rivian (RIVN) stock closes at $100.73/share on IPO's first day of trading

Electric vehicle company Rivian comes in at just over $100/ share after it's first day of trading.

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Rivian (RIVN) is an increasingly popular electric vehicle company that previously only had private investors in big corporations like Amazon and Ford. However, the company recently went public with an IPO listing to the stock market. Rivian’s (RIVN) first day on the market has come to an end, and the stock closed at $100.73/share.

November 10 was Rivian’s (RIVN) first day being publicly traded, after receiving a valuation of $66.5 billion USD. The stock opened that day at $78/share, showing some impressive performance in its first day on the market. The stock’s value reached a high of $119.38 at 10:15 a.m. PT/1:15 p.m. ET, and was at $100.73/share when markets closed at 1 p.m. PT/4 p.m. ET.

Following the market close, Rivian (RIVN) continued to be quite active. After hours, the stock jumped up to $101.80/share. During its first day on the market, Rivian talked about its environmental initiatives in a post to the company’s Twitter account.

Beginning with today’s IPO, 8.2 million shares of Rivian’s equity will go to fund Forever, our philanthropic mission to support high-impact climate initiatives and preserve critical biodiversity.

As the market for electric vehicles gets larger, it will be interesting to see how Rivian’s stock performs over time. Of course, it’s still got quite a ways to go to be in the ballpark of EV company Tesla (TSLA), which recently hit a valuation of $1 trillion. For future updates on Rivian’s (RIVN) stock and its financial performance, stick with us here on Shacknews.

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Star Wars nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_

From The Chatty
  • reply
    November 10, 2021 1:45 PM

    Donovan Erskine posted a new article, Rivian (RIVN) stock closes at $100.73/share on IPO's first day of trading

    • reply
      November 10, 2021 3:25 PM

      Geralt would be proud!

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        November 10, 2021 3:29 PM

        you're thinking of Geralt of Rivia, from the Witcher... this thread is about the American journalist and political commentator

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          November 10, 2021 4:00 PM

          Geraldo of Rivian, riding his EV (nicknamed Roach) on his way to deal with the ghosts in Capone's vault!

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      November 11, 2021 12:02 PM

      What's interesting is a few of the companies building a network of charging stations are also going up.
      Likely because of this as well as the infrastructure bill.

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