2024-04-04 04:45:00 ET
Rivian Automotive 's (NASDAQ: RIVN) stock closed at a record high of $172.01 on Nov. 16, 2021. That equaled a 120% jump from its IPO price of $78 in just a week and boosted the electric vehicle (EV) maker's market capitalization to $153 billion.
But today, Rivian's stock trades at about $11, with a market capitalization of $11 billion. Like many other EV manufacturers , it struggled with supply chain constraints, soaring costs, and persistent losses. The EV market also cooled off and rising interest rates compressed its valuation. But could this struggling EV maker become a $100 billion company again by 2035?
Image source: Rivian.
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Will Rivian Automotive Reach a $100 Billion Market Cap by 2035?