Electric-truck maker Rivian went public Wednesday on the Nasdaq, opening at $106.75 per share after being priced at $78.
Duncan Davidson, partner at Bullpen Capital, shares one major headwind for the company.
"If you look at how these things are priced, they're like 10 to 20 times sales. Next year Rivian's supposed to have run $8 billion in sales, so this actually means this pricing is not out of whack if they actually hit their production. That's the Achilles' heel.has had real difficulty scaling up over the years, and they had much more time than Rivian had to do it. But I think we're going to solve this problem pretty quickly. Look at the whole car industry.
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