Rivian, World’s Biggest IPO of 2021

Shares of Rivian Automotive Inc surged as much as 53% in its Nasdaq debut on Wednesday, giving the Amazon-backed electric vehicle maker a market valuation of more than $100 billion after the world’s biggest initial public offering this year.
Rivian shares closed at $100.73, marking a nearly 30% jump from its offering price.
That made Rivian the second most valuable U.S. automaker after Tesla Inc. Despite just having started selling vehicles and having little revenue to report, Rivian ranked ahead of General Motors at $86.05 billion and Ford Motor at $77.37 billion.