If You'd Invested $500 in Rivian Stock 3 Years Ago, Here's How Much You'd Have Today
Rivian (NASDAQ: RIVN) stock went public in 2021 to great fanfare. At the time, shares traded at a price-to-sales ratio of 60. That type of valuation is typically reserved only for hypergrowth companies.
If you had put $500 into Rivian stock the day it went public, how much would you have right now? The answer might surprise you.
Investing in growth stocks can be tricky. Rivian is a perfect case study. When the company went public nearly three years ago, it was generating annual sales of around $500 million. Over the last 12 months, however, total sales were around $5 billion.
Source Fool.com