The top 10 IPO takeaways from Rivian’s $70bn share price debut

The biopharmaceutical company that received the most approval from the US government for an emergency access program in 2010 was again awarded the coveted achievement status this year.

Rivian Ventures Inc. traded at $16.55 per share on its first day of public trading.

From Goldman Sachs Group Inc.’s Factbox to eTail Roundup, here are the top 10 takeaways from investors’ opinion of the IPO.

The biopharmaceutical company is an ethical cannabis grower and manufacturer of CBD capsules and extracts, with many investors betting on demand for the health benefits of CBD.

With an I.P.O. valuing it at nearly $70 billion, RVNX is a bold move by cannabis producers, but it’s a high-risk industry that doesn’t pay off very often.

Visibility with a market cap of more than $70 billion is not a good sign that the company is going to be able to grow huge volumes.

Is a valuation like the $70 billion overestimated? Or is it justified?

While there is a lot of interest in medical marijuana as a driver of growth, there is limited clarity on the types of doctors’ offices that can authorize medical use of cannabis.

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