Stock Market

GM CEO Mary Barra says Rivian IPO proves General Motors is undervalued

“The massive valuations of electric vehicle start-ups such as Rivian, which is making its public debut Wednesday on the Nasdaq at a higher stock price and market cap than General Motors, shows the legacy automaker is “so undervalued,” GM CEO Mary Barra said Wednesday.”

“Rivian’s stock is indicated to open at $125 a share, a 60% pop from its IPO price of $78 a share and implying a valuation of as much as $106.6 billion. That compares with GM at $60 a share and a market cap of $86.4 billion.” CNBC

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