Rivian stock hit the market at $78 per share on November 9, 2021, in the largest initial public offering of the year and the seventh largest U.S. IPO in history, according to Statista.
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The stock price reached $100.73 at the close of trading, valuing the company at more than $100 billion. That’s higher than Ford, General Motors and Lucid Group, Reuters reported at the time.
If you invest $1,000 at an initial price of $78, you’ll receive 12.82 shares of Rivian stock. At the April 17 price of $8.71, these shares would be worth just $111.66, a decline of almost 89%.
Stock prices fell most sharply from December 2021 to May 2022. The second half of 2022 was relatively stable, with prices hovering in the low-to-mid $30s, but by the end of the year they had plummeted again and declined. It fell below $20 per share for the first time since its IPO.
There was a slight uptick last summer, with prices back in the $20 to $25 range. However, this rise did not last long, and the stock price collapsed again at the end of the year. It hit an all-time low of $8.26 on April 16th and closed that day at $8.71.
Rivian stock has been a disappointment even for investors recently, with the stock down 34.90% in the last year, making it just one of many struggling electric vehicle companies. for example:
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Tesla fell 15.08% last year and has fallen about 59% since November 2021.
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Nio is down 58.90% in the last year and around 90% since November 2021.
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Lucid is down 68.95% in the last year and around 95% since November 2021.
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Nikola fell 18.89% last year and has fallen about 93% since November 2021.
It’s not just individual investors who are feeling the pain of Rivian’s stock collapse and fire. Amazon, which is Rivian’s largest shareholder with 158.36 million shares, lost $12.7 billion on investments in 2022, according to Yahoo Finance. The company made $800 million in profits last year, but that profit was wiped out by a one-week loss in February.
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This article originally appeared on GOBankingRates.com: How much is your $1,000 investment in Rivian’s IPO worth today?
