Excerpt from Bloomberg quoting DataTrek co-founder Nick Colas:
…. ““Rivian’s valuation makes it a legitimate option for institutional investors who have previously only had Tesla to play the electric-vehicle space,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note. Colas said some investors cycle through new companies as they go public, selling the “‘old’ name and replacing it with the ‘new'”….
Read the full article here on Bloomberg!