So far electric-vehicle competition hasn’t put a dent in Tesla‘s growth or valuation. But people are always on the lookout for threats to the EV king. Rivian Automotive could put a chink in Tesla’s armor. But competition has nothing to do with the new Tesla risk.
Rivian’s (ticker: RIVN) initial public offering was a smashing success. The stock is up almost 12% in early trading, to about $114 a share. The S&P 500 is up 0.2%, while the Dow Jones Industrial Average is down 0.2% in Thursday morning trading.
The…
