Excerpt from CNBC quoting DataTrek co-founder Nick Colas:
…. “CNBC recently spoke with Nick Colas, co-founder of DataTrek Research and a former Wall Street auto industry analyst, about what’s going on in the EV space…
…. Rivian’s valuation is extremely high, according to Colas. “There is no getting around that. Any time you are talking about a company that hasn’t sold any product yet and has a $100 billion valuation it is a huge valuation, but it is not necessarily a bubble,” he said.
Tesla itself did not have an $80 billion-plus market cap until early 2020, Colas noted in a recent research note, and by then, it was producing 100,000 vehicles a quarter. Rivian is just starting to ship its first customer vehicles now”….
Read the full article here on CNBC!