It’s Electric! Raise $$$ & Fail
“Raising Big Money Then Falling” says Randy Essex, USA Today and it makes one wonder. Buy an EV from a start-up, established company or combo of both with all-electric vehicles?Randy writes ” Rivian’s initial public offering last year raised $11.9 billion. The share price hit a peak of $172.01 on Nov. 16. At the end of the year, that was down to $103.69. The stock has tumbled further since then, closing the first quarter at $50.24, costing Amazon $7.6 billion in the quarter and Ford $5.5 billion