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Rivian's valuation may be even more lofty than Tesla's?

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Chatterbox Moo wrote a column · Nov 11, 2021 09:58
$Rivian Automotive(RIVN.US)$ made its public debut on Wednesday. The highly anticipated EV stock traded higher by nearly 30%, closing the day valued above many traditional automakers.
Today shares of the company are trading 18% higher and according to Loup Funds' Gene Munster, Rivian's valuation may be even more lofty than Tesla's.
I think Rivian's valuation is a full standard deviation outside of aggressive."

—— Munster said Thursday on CNBC's "Squawk Box."
Rivian's valuation may be even more lofty than Tesla's?
Munster told CNBC the average sale price of a Rivian vehicle is about $80,000, which is similar to Tesla's Model S and X.
Tesla delivers about 70,000 of these vehicles per year, according to Munster. Rivian is expected to deliver about 1,000 vehicles this year, but if one assumes the company is able to deliver 70,000 vehicles in 2023, "that means that the valuation per vehicle delivery in 2023 is $1.3 million," he said.
Based on 2023 delivery expectations, Tesla is valued around $500,000 per vehicle delivery, Munster said.
EVs are ultimately computers on wheels, so Munster considers Tesla and Rivian to be tech companies, he said. "So when I think about Tesla and think about the long term, my opinion is this can be a $2,500 stock." Munster said he sees an important difference between Tesla and Rivian: Tesla didn't increase its growth rate to 50% until it started selling lower priced vehicles.
Mooers, do you think Rivian's market cap will surpass Tesla's in the future?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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Chatterbox Moo
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