In this article we discuss the 5 most anticipated IPOs in 2021 and 2022. If you want to read our detailed analysis of these IPOs, go directly to the 10 Most Anticipated IPOs in 2021 and 2022.
Rivian is a Michigan-based electric vehicle maker founded in 2009. It is ranked fifth on our list of 10 most anticipated IPOs in 2021 and 2022. The company is seeking to make a brand name for itself in the electric SUV and pickup truck market. It is developing semiautonomous all electric vehicles in these categories that would be more resistant to wear and tear than other electric vehicles and could be used for off-road driving as well. The firm is planning for an IPO in 2021 or 2022 and targeting an valuation of over $70 billion.
This would make Rivian one of the largest publicly traded electric vehicle companies in the US, behind traditional automakers who are investing in electric cars. It would also place Riviain as a rival to California-based EV firm Tesla, Inc. (NASDAQ: TSLA), owned by billionaire Elon Musk. Tesla, Inc. (NASDAQ: TSLA) stock has been sliding in recent weeks amid decreased demand for new vehicles in the Chinese market and pressure from competitors like Ford, which debuted an all-electric truck last month which is set to rival Rivian products as well.
However, Tesla, Inc. (TSLA) stock has still managed to return more than 192% to investors in the past twelve months. On June 8, the stock rallied amid media reports that delivery numbers for the month were going to be better than expected, and investment advisory Wedbush maintained an Outperform rating on the stock. Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Tesla, Inc. (NASDAQ: TSLA) with 24 million shares worth more than $16 billion.