Even with major backers like Amazon and Ford, Cramer says it's hard to say that Rivian will be the next Tesla.
and is likely to start trading Wednesday. "Given that the company plans to offer 135 million shares, we're talking about a $9.85 billion fundraise, which would make this the sixth- or seventh-largest IPO in U.S. history," Cramer said.
Cramer said he wouldn't be surprised if Rivian's stock takes off even with such a high valuation because "the people buying this thing won't care about valuation." Rather, investors will be betting that the young company can scale up production and become a major competitor in the growing EV market. Cramer complimented Rivian for the number of orders it's received for not only its pickup truck and planned SUV, but also its. Additionally, the fact a competitor like Ford is an investor in Rivian "is a huge acknowledgment" of Rivian's potential, he said.
Ultimately, Cramer told viewers that "if you really believe in Rivian, you've got my blessing to speculate." However, he added, "I'd much prefer to stay on the sidelines and get my electric vehicle exposure from Ford, which is why we own it for the charitable trust."
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cramer says the rally in infrastructure stocks shows the newfound power of retail investors'It's a new world, more straightforward, less pessimistic, and you ignore this optimism at your own peril,' the 'Mad Money' host said.
Read more »
Best trades on CNBC Monday: Cramer on 'buy now, pay later' stocks, analyst airline picks and new EV playsNew for subscribers: Best trades on CNBC Monday: Cramer on 'buy now, pay later' stocks, analyst airline picks and new EV plays. Check out CNBCPro today.
Read more »
Kirk Fogg Says He's Coming Back to Host 'Legends of the Hidden Temple'Kirk Fogg says he's returning as a host on the 'Legends of the Hidden Temple' reboot.
Read more »
Cramer says the rally in infrastructure stocks shows the newfound power of retail investors'It's a new world, more straightforward, less pessimistic, and you ignore this optimism at your own peril,' the 'Mad Money' host said.
Read more »
'SNL': Weekend Update Challenges Ice Cube Over Vaccine Refusal“I just rather be myself than take the vaccine like you 3 billion other bozos,” Kenan Thompson’s rapper says
Read more »
U.S. stock futures pause at records as Musk says he'll sell big Tesla stakeU.S. stock futures paused at record high levels on Monday, as the chief executive of the S&P 500's fifth-largest company indicated he would sell a tenth of...
Read more »