Daily Poll: EV companies and their Price-to-dream ratio.
$Rivian Automotive(RIVN.US$ , the electric vehicle maker backed by $Amazon(AMZN.US$ and $Ford Motor(F.US$ , priced its IPO on Tuesday at $78 a share. The deal values Rivian at $66.5 billion.
Rivian is already worth almost as much as Ford ($79 billion) and General Motors ($85 billion). That’s all before the company has even started generating real revenue. $Lucid Group(LCID.US$ is worth $72.5 billion even though the company just began production of its first cars. $Nikola(NKLA.US$ ’s market cap was higher than Ford’s at one point last year before it's been accused to be a lie.
While Rivian is still effectively pre-revenue, the company said in its prospectus that it has a backlog of 55,400 pre-orders for its R1T and R1S electric vehicles. The company said it expects to fill those orders by the end of 2023. Additionally, $Amazon(AMZN.US$ has ordered 100,000 vehicles to be delivered by Rivian by 2030, and the companies plan to have 10,000 new Rivian-Amazon delivery vehicles on the road as early as next year.
Even though Rivian and Lucid have delivered 0 vehicles to their customers. Investors are continuously trying to hop on "the next Tesla" at the early stage.
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JJMo : Is it a buy?
Shedi : The share might jump and rally but might crash or stall once it hits supply chain issue. The valuation does not make sense. I am going to wait and watch how it unfolds.
NoobVester : Okay to play if you have spare cash
JohnthehAndsome JJMo: Let’s see
Sum Jia Huan : ya~
Lana Su : Is it deliberate hype that the price is still quite high just listed?
70198652 : I will follow the origin IPO $ 55-62
70198652 : I already placed order 1003 at $62
70198652 : For me 120 is too much valuation
70198652 : It will be around $55
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