The strong up and down trading moves Rivian highlights the heightened volatility risk posed to investors buying the stock.
The bill allocates $7.5 billion to the buildout of a network of 500,000 electric charging stations across the country.
Amazon-backed EV startup Rivian had a dream IPO on Wednesday, and the stock isn't done yet.
The Rivian IPO raised $11.9 billion from the sale of 153 million shares, making it the sixth biggest trading debut on a US exchange ever.
Wood's comments came before Rivian's first public trades this afternoon, when the company was valued closer to $76 billion based on its $78 IPO price.
The electric vehicle company plans to sell 135 million Class A shares in its IPO, and 675,000 shares will be allocated to SoFi users.