2020 was the year of the electric vehicle stock! Encouraged by Tesla‘s strong performance, last year saw a deluge of EV automakers debut on the public markets via IPO or via a reverse merger with a special purpose acquisition company, or SPAC.
Still, there was one high-profile holdout: Rivian Automotive. Founder and CEO Robert “RJ” Scaringe downplayed Rivian’s IPO intentions, noting as late as November the company was focused on production in response to an IPO-related question. That’s why investors were pleasantly surprised earlier this month when Bloomberg reported the company was prepping to go public with a possible September 2021 listing.
However, buying Rivian stock might not be the best way to take advantage of Rivian Automotive’s pending IPO. Investors should consider buying shares of Rivian investor Ford (NYSE: F) instead.
Ford’s ownership stake in Rivian should boost shares
Trading at a price-to-book