Here’s How Much a $1,000 Investment in Rivian’s IPO Would Be Worth Today

RoschetzkyIstockPhoto / iStock.com

RoschetzkyIstockPhoto / iStock.com

Rivian stock hit the market at $78 per share on Nov. 9, 2021, in the largest initial public offering of the year and the seventh-largest U.S. IPO of all time, according to Statista.

Find Out: 10 Valuable Stocks That Could Be the Next Apple or Amazon
Read More: 7 Unusual Ways To Make Extra Money (That Actually Work)

Shares reached $100.73 by closing, giving the company a $100 billion-plus valuation — higher than Ford, General Motors and Lucid Group, Reuters reported at the time.

A $1,000 investment at the $78 opening share price would’ve given you 12.82 shares of Rivian stock. At the current price of $8.71 as of April 17, those shares would be worth just $111.66 – a nearly 89% decline.

Shares fell most sharply between December 2021 and May 2022. Following a period of relative stability during the second half of 2022, when prices hovered in the low-to-mid-$30s, they were plummeting again by the end of the year, falling below $20 per share for the first time since the IPO.

A slight uptick last summer lifted prices back into the $20 to $25 range. The rally was short-lived, however, and the stock crashed again at the end of the year. It reached an all-time low of $8.26 on April 16 and closed at $8.71 that day.

As disappointing as Rivian stock has been even for more recent investors — it’s down 34.90% in the last year —  it’s just one electric-vehicle company among many that are struggling. For example:

  • Tesla is down 15.08% in the last year and about 59% since November 2021

  • Nio is down 58.90% in the last year and about 90% since November 2021

  • Lucid is down 68.95% in the last year and about 95% since November 2021

  • Nikola is down 18.89% in the last year and about 93% since Nov. 2021

Individual investors aren’t the only ones feeling the sting of Rivian stock’s crash and burn. Amazon, whose 158.36 million shares, per Yahoo Finance, make it Rivian’s largest shareholder, lost $12.7 billion on its investment in 2022. Although it gained $0.8 billion back last year, losses during a single week in February wiped out those gains and more.

More From GOBankingRates

This article originally appeared on GOBankingRates.com: Here’s How Much a $1,000 Investment in Rivian’s IPO Would Be Worth Today


Source link

Check Also

DLCC invests $2.2 million in battleground state legislature races

File – A ‘Vote” sign is seen on the University of Texas campus, Monday, Nov. …

Leave a Reply

Your email address will not be published. Required fields are marked *