The world is going through some tough times, but Rivian Automotive Inc’s stock price had an especially bad day on May 9, 2022. New information that large investors such as the Ford Motor Company would sell a large number of shares came just a day prior. Rivian’s stock dropped over -20% in one day as it reached a new low. The price rebounded just a little in after-hours trading.
This put the Rivian market capitalization at $20.52 Billion. At its height, the Rivian stop price was $179.47 and a market capitalization of over $161 Billion. We will have to wait and see if the Rivian stock price will stabilize near this level.
In the meantime, here is a real-world comparison of a Rivian R1T’s EV towing range test versus a new Toyota Tundra twin-turbo V6.