Quote:
Originally Posted by zamler
Rivian is down 7x from its peak that is a remarkable crash. Ford is now free to sell their shares although why would they seems like the worst possible time.
|
It is only a remarkable crash because it was priced ridiculously.
It now has a market cap of about $25B which still sounds high, but at least is somewhat closer to sanity.
At its peak, it was worth $175B - which was about double what Volkswagon was worth. You know, that company that also owns Audi, Porsche, Lambourgini, etc. And, you know, actually
sells cars, as in millions of cars.
How many vehicles has Rivian shipped? A few hundred?
When you start with stupid valuations, remarkable crashes become not only possible, but inevitable.