Rivian’s stock has rocketed following its initial public offering.
Electric vehicle maker Rivian Automotive Inc. (ticker: RIVN) broke records with the launch of its IPO on Nov. 10 and its immediate placement as the second-most-valuable U.S. automaker, after only Tesla Inc. (TSLA).
Though it started out with an ambitious $52 billion valuation target, the stock has continued to soar, and the upstart truck maker with fewer than 200 vehicle sales under its belt eclipsed $100 billion in market capitalization by its third day of trading.
While some see the backing from Amazon.com Inc. (AMZN) and Ford Motor Co. (F) as vindication of their beliefs in Rivian’s bright future, others may be wary of a fledgling manufacturer riding high on the meme stock wave with few fundamentals to support its massive valuation.
If you’re considering getting in early, here are three pros and three cons to buying RIVN.
This article originally appeared at U.S. News & World Report.