RTTNews | Nov 16, 2021 10:41AM EST

10:41 Tuesday, November 16, 2021 (RTTNews.com) - Shares of Rivian Automotive, Inc. (RIVN) are gaining over 5% on Tuesday morning, as the electric vehicle manufacturer's rally continues since the company went public last week in one of the biggest IPOs of the year.

Last Wednesday, Rivian made its debut on the U.S. stock market, after pricing its 153 million shares at $78 per share, above its expected range. The stock opened its trading at $107.80 and closed its first day of trading at $100.73 per share, giving the company a valuation of around $86 billion.

RIVN is currently trading at $158.10, up $8.74 or 5.85%, on the Nasdaq, on a volume of 31.9 million shares. The company currently has a market value of $139.2 billion.

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