In six trading days, the stock price has surged by 45%. Rivian, a challenger of Tesla, is seeking new partners for cooperation.

Rivian Automotive is preparing to seek more business partners beyond Amazon. Rivian CEO RJ Scaringe stated on Wednesday, "We saw the supply chain start to work in a healthy way in the second quarter."

Rivian, once known as the "Tesla killer," sells an all-electric pickup truck and sport utility vehicle (SUV) and produces electric delivery vans for its largest shareholder and customer, Amazon. The agreement between Rivian and Amazon is exclusive, but Scaringe mentioned that the company is "in the final stages of negotiations that allow us to sell vehicles to companies outside of Amazon."
Rivian's quarterly production and delivery figures, announced on Monday, exceeded Wall Street expectations, driving the company's stock price up by over 45% in six trading days. The company also reiterated its plan to produce 50,000 electric vehicles this year, lower than some internal forecasts.
Since its IPO in November 2021, Rivian has been grappling with production delays. Despite the recent stock price surge, its shares remain well below the IPO price of $78 per share. That IPO became the largest US listing since Facebook's in 2012. In 2022, Rivian's stock price dropped by 82%.
Scaringe estimated that the trucks supplied to Amazon will account for around 20% of the total production. According to the agreement reached between Rivian and Amazon, the company plans to deliver 100,000 electric delivery vehicles to Amazon by 2030.
What is the right price for $RIVN ? Basically where to sell ?