The Hottest IPO Of The Month Of November

Hey guys it's William and today I will be talking to you guys about the hottest and most anticipated IPO in the month of November. IPO #1 Rivian Automotive Inc. For months Amazon and Ford-backed EV company Rivian has been extremely highly anticipated to IPO. The stock finally went public on November 10, 2021, under the ticker "RIVN," with an initial offering price of $78.00 the stock rose all the way up to $171 before declining way down to $111. The corporation raised roughly $12 billion by selling 153 million shares. In September, Rivian began shipping its R1T five-passenger electric pickup vehicle. Rivian has received at least 48,000 preorders for its consumer vehicles, with Amazon placing an initial order for 100,000 electric delivery vans. Rivian's market capitalization is currently sitting at $95 billion at the time that I am writing this article. I personally think that Rivian will thrive as a company because so many major company's are backing it and even if it reached just a fourth of Tesla's value it would be worth over $250 billion dollars meaning that the stock would have to almost triple in value.

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