The public debut of Rivian Automotive (NASDAQ: RIVN) was one of the most anticipated of any electric vehicle company last year. Its initial public offering (IPO) didn't disappoint, as investors bid shares high enough to give the start-up company a valuation of over $150 billion.
Much has happened in the seven months since that time. Rivian built a large reservation base for its vehicles, and it began production and made its first sales. The stock has also retreated to the level where its market cap is now below $30 billion. That makes now a great time to see if Rivian stock is a buy.
Image source: Rivian Automotive.
Source Fool.com