https://wccftech.com/rivians-r1t-truck-is-the-least-efficient-ev-so-far-in-the-market-and-yet-the-company-is-worth-well-over-100-billion-right-now/

Rivian (NASDAQ:RIVN), the EV manufacturer that enjoys backing from Amazon and Ford, continues to enjoy outsized attention in the financial world on the back of the stock’s meteoric rise following a successful IPO on Wednesday.

Rivian had priced its IPO at $78 per share, thereby resulting in a targeted valuation of around $77 billion. The company had also expanded the size of the offering to 153 million shares from the earlier marketed 135 million shares. However, Rivian shares commenced trading at $106.75 per share, corresponding to a market capitalization of $93.3 billion. Since then, the stock is up nearly 14 percent, with the company now worth around $105 billion.