Rivian, with $0 in revenue, is now the third most valuable carmaker on the planet
CNN
Rivian, a 12-year-old startup that's never sold a single vehicle, is now the third most valuable carmaker in the world.
The electric vehicle maker has been public for all of one week, but its share price has more than doubled in that time, valuing Rivian at more than $140 billion — just ahead of Volkswagen ($139 billion), and in third place behind Toyota ($306 billion) and Tesla ($1 trillion).
On Tuesday, the stock opened 6% higher, at about $159 a share. When the company debuted last week, it priced its shares at $78.
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