![]() ![]() It announced plans to build a second manufacturing plant in Georgia with a capacity to build 400,000 vehicles a year. 15 – surpassed General Motors as the second-most valuable U.S. That means Rivian – which had built just 652 electric pickups and SUVs as of Dec. RJ Scaringe, founder and CEO of Rivian, the Irvine-based electric truck startup, rolled out one of the biggest initial public offerings in years, raising nearly $12 billion and valuing the company at more than $77 billion. While megacaps can pass on rising input costs, bubble stocks that are priced for very high growth and margin improvements are unlikely to deliver on those expectations, he said. “Technology exposures across portfolios are likely being changed to a little less of the most speculative and more of the high-quality technology companies with high stable operating margins,” said Peter Garnry, head of equity strategy at Saxo Bank. They’re down about 5% to 10%, suggesting investors still prefer businesses with steady growth and margins. Irvine-based EV truck maker Rivian raises nearly $12 billion in IPOĪs the selling has picked up this week on concern that the Federal Reserve will raise interest rates faster than previously expected, profitable mega-companies Apple, Google owner Alphabet and Microsoft have held up relatively well.‘Next Tesla’ tag sends Rivian above $100 billion - without sales. ![]()
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