Rivian Automotive shares are up 67 percent from their original $ 78 price target Wednesday.
Add another event to Rivian Automotive Inc. is doing well and surprisingly well as new stocks: It is now the largest US company in the free market.
Automotive Manufacturer, with support from Amazon.com Inc. by Ford Motor Co., has launched Lucid Group Inc., a partner of a car dealership that does not sell his name, at the top of the list.
Rivian shares were up 67% from their previous $ 78 price target Wednesday. It is about to achieve a 25% gain from passing Volkswagen AG, one of the largest car manufacturers in the world, at market price. So far, Lucid has seen its price rise 339% this year. It became public knowledge by joining a vacant company in July.
“(It’s very frustrating) when it doesn’t get the right amount of money,” said Michael Hewson, a market analyst at CMC Markets, discussing Rivian’s price.
Electric vehicles have been attracting business attention since mid-2020, when governments, policy makers and corporations announced plans to invest in these companies with rapid growth in response to climate change. Recent dynamic results from Tesla Inc. company CEO as well as the massive push from Hertz car rental company to EVs has increased the number of stocks in the air.
Rivian’s three-day consecutive meeting raised its market value more than the maker Mercedes-Benz Daimler AG on Friday, following a sharp decline in the market for Ford and General Motors Co. in the last two days.