Here’s What A $1,000 Investment in Rivian’s IPO Would Be Worth Today

Rivian shares entered the market at $78 per share on November 9, 2021, in the largest initial public offering of the year and the seventh-largest US IPO of all time, according to Citizen.

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Shares hit $100.73 at the close, giving the company a valuation of more than $100 billion — higher than Ford, General Motors and Lucid Group, Reuters reported at the time.

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

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

A slight increase last summer pushed the price up into the $20 to $25 range. The rally was short-lived, however, and the stock fell again at the end of the year. It hit a record low of $8.26 on April 16 and closed at $8.71 that day.

While Rivian’s stock has been disappointing for even the most recent investors — it’s down 34.90% in the past year — it’s just one of many struggling electric car companies. For example:

• Tesla is down 15.08% in the previous year and approximately 59% since November 2021

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

• Lucid is down 68.95% in the previous year and approximately 95% since November 2021

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

Individual investors aren’t the only ones feeling the sting of Rivian’s stock 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 earned $0.8 billion last year, the loss during one week in February it wiped out those benefits and more.

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This article appeared previously GOBankingRates.com: Here’s What A $1,000 Investment in Rivian’s IPO Would Be Worth Today