Rivian’s stock price continues to plummet.

Rivian’s stock market price has soared nearly uninterrupted since the company’s much-anticipated initial public offering (IPO) on Nov. 9.

Rivian’s stock price soared more than 10% to $165 per share at one point on Tuesday. Rivian’s stock was twice its IPO price of $78 at that point. By lunchtime trading, the stock had given up some of its gains, sitting around $158.

The stock is up 58 percent from its IPO day closing price of $100.73.

Rivian’s market capitalization of $140 billion is closing in on retailer Lowe’s $165 billion. According to Yahoo Finance Plus statistics, Rivian’s market valuation is over $141 billion, which is comparable to automaker Volkswagen.

Since the IPO, the stock has continuously been among the top three trending tickers on the Yahoo Finance site, demonstrating investor interest in the buzzy electric vehicle producer.

The success of Rivian’s initial public offering is inspiring. “I believe it demonstrates the magnitude of upheaval occurring in this business as well as the potential,” said Austin Russell, founder and CEO of Luminar.

Rivian’s passion is contagious, despite the fact that the business is still a long way from mass-producing its electric vehicles. According to the business’s prospectus, the company lost $2.4…