ARVL - Rivian Automotive rallies while electric pickup war against GM and Ford looms down the road

Rivian Automotive (NASDAQ:RIVN) is up 5.68% to $106.45 to trade just slightly below where it made its splashy debut yesterday. Shares of RIVN ranged from $95.20 to $119.44 on volume of over 50M shares during the first day of trading. The market cap is still over $90B at its current share price. Looking ahead, Rivian (RIVN) plan to enter the pickup market with its R1T model, which is aimed at drivers who like off-roading and places it in competition with General Motors (NYSE:GM) and Ford (NYSE:F). "It will be challenging for Rivian to compete with the bigger, cheaper Ford F-150 Lightning when it becomes available, and the competition in the space will grow even fiercer as GM is also expected to unveil its all-electric Silverado at CES next year," warns Edmunds analyst Jessica Caldwell. Rivian Automotive (RIVN) also faces some of the same industry pressures that set back the original

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Rivian Automotive rallies while electric pickup war against GM and Ford looms down the road