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Rivian's mega-IPO brings market crash closer
Rivian's IPO last week was the largest in the US since Facebook debuted in 2012
Nov 15, 2021
1 min read
Anna BakkerNews analyzer

According to an investor who predicted the 2008 crisis, this is a prime example of an impending market crash.

Electric car maker Rivian held one of the largest IPOs in history, and after trading began, its shares rose 67% in three days. The company has become the second most valuable American automaker after Tesla, while remaining its largest competitor.

Following its IPO, startup Rivian has become the world's sixth largest automaker by market capitalization, overtaking Ford and General Motors.

At the same time, the company has not even had time to even set up production, having released only about 150 electric vehicles. The startup has no income and does not generate income.

Meanwhile, major investor Michael Berry warns speculation has hit a 100-year high and points to Rivian's $ 100 billion IPO as a prime example, writes ProFinance.

Asset prices are more inflated today than during the dot-com bubble, Berry said, and there is more speculation than in the years leading up to the Great Depression that began in 1929.

The investor is best known for predicting the real estate bubble in the mid-2000s and making a fortune by betting on its collapse.

For several months now, he has been urging inexperienced investors not to gamble on meme stocks, cryptocurrencies and other risky assets.

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