Tesla’s biggest Cybertruck competitor just rolled out the biggest IPO this year

Rivian today showed that people “will come” even before you build it. Today, the electric truck manufacturer raised a massive $11.9 billion in its initial public offering (IPO). This is the biggest so far this year and the sixth-largest ever on a US exchange. It trumps Uber which raised $8.1 billion in 2019. The company, founded in 2009, is now valued at more than $77 billion — nearly as much as traditional companies Ford and General Motors. Shares were offered at $78 each — above the previously estimated price between $57 and $62, showing there’s a keen commitment to buy. Pretty good…

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