Rivian hits one-month high after massive slump


Electric vehicle manufacturer Rivian Automotive has been displaying the sort of volatile share price that is perhaps to be expected from a recently-listed company which went to market after being a relatively unknown quantity in the motoring world and having done so with such an inflated valuation.

Initially, Rivian stock appeard to show no sign of investor concern and it headed for the skies, but its recent performance has been subject to a sudden crash in value which took place in March this year, from which it never really recovered.

For those electric vehicle drivers among us who have ever experienced 'range anxiety' - that unnerving feeling when the battery level indicator shows that there is not much electricity left and the nearest charging station appears to be long in the distance - the roller coaster ride that Rivian stock has taken has been a similar journey.

In the spring of 2022, when Rivian stock collapsed in value from $67.50 on February 28 to $35.83 just one day later on March 1, almost 50% of the value of Rivian stock was lost.

This has not yet recovered, and in fact the value has declined even further, however things are perhaps beginning to look up, even if it is very slightly.

Rivian stock climbed gradually to $34.30 by close of the US market on Friday July 29, which represents a 1-month high point for the NASDAQ-listed stock.

That is still lower than the $35.83 it crashed to in its initial decline in March this year, but it is an 8.6% climb over the past six months from the depths it plumbed during the summer months.

On Friday alone, Rivian stock gained 1.34% in value, and has climbed 33.4% in the last 30 days, which is interesting, however this climb was made after a very slow return to some degree of popularity after a very low value in May of just $20 per share.

Unlike some disruptive companies, especially those which went to public market during the electric vehicle boom over the past year, Rivian actually took the traditional route to market, and did not go down the Special Purchase Acquisition Company (SPAC) route as some of its rivals did.

This perhaps instilled a degree of confidence at the time, as it means that proper due diligence has been conducted on the corporate structure of Rivian Automotive itself rather than a shell company which writes a blank check and bypasses the traditional listing procedures which are long and invasive.

At the time of listing in Autumn 2021, Rivian looked to show a market cap of $100 billion which is astonishing even post-IPO.

The volatility which has ensued is perhaps interesting, however it is a lesson that not every potential superstar gets off to a stellar start.

The close of business on Friday was, however, a step in the right direction.

Buy and sell stocks of the world's biggest publicly-listed companies with CFDs on FXOpen’s trading platform. Open your FXOpen account now or learn more about trading share CFDs with FXOpen.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Shares

After Earnings Report, NVDA Stock Price Exceeds $1,000 Coinbase (COIN) Stock Price Holds at Key Support Level The Share Price of Alibaba (BABA) Has Reached Its Yearly High The Stock Price of PepsiСo (PEP) Is Retracting from Its Yearly High Moderna goes AI and experiences share price rally

Latest articles


WTI Crude Oil Price Shows Bullish Trend Ahead of OPEC Meeting

As the chart indicates, on Monday, the price of WTI crude oil rose by approximately 1%.

Reuters reports that the bullish sentiment is driven by:
→ the upcoming OPEC+ meeting scheduled for 2 June;
→ expectations of high fuel demand with the


Can Last Week's Gold Price Rally Be Replicated?

Gold holds a particularly exceptional status among precious metals. Whilst it does have some use in the manufacturing of consumer durables and electronic products ranging from alloy compounds in wedding rings to terminals for connecting electrical cables in audio equipment,

Forex Analysis

USD/JPY Analysis: The Market is Indecisive Near Its Peak Since May 1

As the USD/JPY chart shows today:

→ The price is in an upward trend (indicated by the blue channel) that has been relevant since the beginning of 2024.

→ On Thursday, May 23, the exchange rate nearly reached 157.2 yen

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.