Rivian went public in 2021. If you had invested the day of the IPO, how much would you have now?
Rivian (RIVN 4.92%) stock went public in 2021 to great fanfare. At the time, shares traded at a price-to-sales ratio of 60. That type of valuation is typically reserved only for hypergrowth companies.
If you had put $500 into Rivian stock the day it went public, how much would you have right now? The answer might surprise you.
A $500 investment in Rivian would now be worth this much
Investing in growth stocks can be tricky. Rivian is a perfect case study. When the company went public nearly three years ago, it was generating annual sales of around $500 million. Over the last 12 months, however, total sales were around $5 billion.
In three short years, the company has managed to boost sales by nearly 1,000%. But what has the stock done? Over that same time period, Rivian shares have lost…
