Rivian briefly tops $100 billion market value

Rivian Automotive Inc. shares raised about $11.9 billion on Wednesday. Rivian started at $119 but ultimately closed the day at $100.73, giving the company a market value of $98.6 billion.

According to Bloomberg’s data, this is the biggest listing reported globally this year, and the sixth-largest exchange on the U.S. ever.

Rivian is supported by big companies such as Amazon.com Inc. and Ford. The electric automaker sold 153 million shares on Tuesday after marketing 135 million for $72 to $74, it had elevated from $57 to $62.

Rivian is making a very big impact on the EV market that is currently ruled by Tesla, which has a market value of $1 trillion.

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