RIVIAN’S BUBBLE

Rivian made a public debut 3 months back by listing on the renowned New York Stock Exchange. Rivian’s story is as bullish and overly optimistic as it gets. Some have even gone on to call it the biggest stock bubble in US stock history. Rivian went to raise higher than expected billions of dollars with 0$ to show as revenue in the tax filing report. Rivian yearned to be a 75 billion dollar company but has far surpassed expectations and experts. As of January 2022, it is worth $76.21 billion from a peak of $120 billion last year.

One of the main reasons for Rivian's high-riding success is that it was riding on the support and prestige of Amazon and Ford, both of which have also pledged to collaborate. Amazon plans to order a large fleet of Rivian cars in the near future and replace its aging fleet of gas-powered cars.

Rivian is not some tech geek start-up that got the idea in 2020. The company is 13 years old. They must have sold a whole lot of cars in this time period right? Wrong, only 156 cars to date and almost all of them are of the company’s employees. Rivian has become one of the most valuable car brands by practically sitting ducks and working like a bunch of old men.

Investment service provider Moody’s recently degraded Indian companies’ status as they were “overpriced” following the flurry of IPOs which turned Indian start-ups into unicorns. I wonder what Moody’s has to say about Rivian’s market debut and explain how in the world is Rivian not overvalued by a huge shot.

Although it would be inequitable to say that Rivian has a lot going for it, especially after the COP26. But it would be blatant disregard to value a newbie just on the basis of hopes and future prospects without real results and growth trajectory.

Rivian’s popularity is certainly increasing and it has been sending its products for review to big names like MKBHD. Who unsurprisingly gave it a thumbs up and seemed all-for-it.

Don’t get me wrong, I actually like the Rivian R1T. Its interior design is soothing, luxurious and solidly built. The big boot and frunk (front trunk) can swallow a lot and have several clever tricks and features up its sleeves. The design stands out on the road and I especially like the huge light bar which runs across the face and doubles up as a charging indicator. Campers and trekkers will especially find the luggage compartment that runs across the length of the whole car useful as it can be used to fit golf clubs or even a stove and Rivian will happily tick the 5000$ option for you. It has 800 horsepower and can pin you back into your seat thanks to the linear growth of torque. The car seems very promising but it hasn’t yet passed the test of time.

The crescent sun is yet to shine upon the rising star. In the eagerness of sunlight, the star was washed away by its starlight. But can it go up against the great Tesla and its CEO the controversial Mr. Musk?

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