Electric Vehicle Manufacturer Rivian Automotive Charges Up For Its Listing In New York

Electric Vehicle Manufacturer Rivian Automotive Charges Up For Its Listing In New York
PIX1861 / Pixabay
  • Rivian Automotive shares to start trading on the US Nasdaq on Wednesday 10 November.
  • Shares will trade under the ticker RIVN.
  • Guide price per share is $72-$74.
  • Rivian would be valued at around $65 billion if the guide price is reached.

Get The Full Walter Schloss Series in PDF

Get the entire 10-part series on Walter Schloss in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues.

Q3 2021 hedge fund letters, conferences and more

Rivian Is Charging Up For An Eye Watering Valuation

Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown

Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]

Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More

"Rivian is the latest electric vehicle start up with ambitions to swerve into the fast lane in terms of EV sales. The US company is charging up for an eye watering valuation of around $65 billion when it lists on the Nasdaq exchange, on Wednesday after it upped the guide price per share to between $72-$74. Such a price tag would mean it will rival Chinese EV maker NIO in terms of its valuation, a company which has already surpassed 10,000 in monthly sales. Rivian is still in a much lower gear in terms of units sold but aims to stand out from the EV crowd with a focus on pick-up trucks and SUVs, and has more than 48 thousand pre-orders for its initial models.

The shares are due to start trading at 14.30GMT, but it can take several hours to get a live market price. During this period of time, it won’t be possible to buy or sell shares. Investors will be able to deal the shares through the HL platform once there is a live market price, and trading and settlement has been confirmed by the UK clearing and settlement service. Investors should be aware that the global EV market is highly competitive and Rivian is faced with a raft of rivals as the race heats up.

Investing in an individual company is higher risk and isn’t right for everyone and investors should only hold shares as part of a well-balanced, diversified portfolio.  If investors intend to trade via HL, they will need to have an account already open with available cash to invest before shares can be purchased. Clients also need to complete a W-8BEN form, for the US Treasury Department’s Internal Revenue Service. The advantage of buying shares via an ISA account means all returns are tax free, however IPOs shares purchased via ISA accounts can take a little longer to settle."

About Hargreaves Lansdown

Over 1.67 million clients trust us with £138.0 billion (as at 30 September 2021), making us the UK’s number one platform for private investors. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month.

Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
Previous article A Momentous Shift
Next article Elon Musk’s Fortune Takes $50 Billion Dent In Two Days After Twitter Poll

No posts to display