Just a few days after the fantastic debut on the Nasdaq in New York, battery autonomy problems penalize supply contracts, and capitalization drops below 100 billion dollars.
The title of the American Rivian, after the initial jump, where it reached 172 dollars on November 16 last year, dropped dramatically to 108, dangerously close to the value of 106 dollars marked on the day of its debut on the Nasdaq list. However, the subsequent rise to $ 118 does not put you in a good mood: capitalization, or the market value of total shares, fell below the psychological threshold of $ 100 billion, settling at around $ 96 billion. The freshman Rivian thus casts the first shadows on the holding of the electric car made in the USA, of the group of companies protagonists of legitimate financial speculations, but which in this way are not evaluated on the basis of real sales volumes or the concrete achievement of their respective objectives. technological. The bill to the real economy, however, is paid.
Ford pulls back
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The reason for the decline in Rivian’s stock market performance has to be found in several elements. The first, certainly the most important, is the departure of Ford, which in addition to having invested in Rivian (12%) had signed a partnership for the construction of an electric pick-up. The other reason is instead to be found in the autonomy problems of the electric vans ordered by Amazon (it has a 20% share), which recorded an energy consumption of 40% higher than initially declared, with the consequent decrease of the autonomy.
The market reacts (badly)
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The market therefore reacted directly to the “cases” concerning the two companies involved, penalizing the title of the American Rivian, initially awarded for its potential. Ford therefore decided to do it all by itself, aiming to increase the production volume of a successful model, namely the F-150 Lightning pick-up. The next few months will therefore be crucial for the performance of the Rivian title, which will have to prove that it can “hold the blow”. Until 2023, the annual production of the R1T pick-up and R1S SUV should not exceed 1,200 units, reaching full production capacity of 150,000 units per year in 2023.
November 23 – 11:34
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