Stock of the Day
Out of context: Reply #454
- Started
- Last post
- 631 Responses
- grafician-1
"Rivian (RIVN) has reportedly filed for an IPO and is looking to go public around Thanksgiving after it lands SEC approval. Bloomberg reports that the electric vehicle startup is looking for a valuation of around $80B, which is a shocking jump from the $27.6B valuation when it raised new funds from T. Rowe Price, Fidelity Investments and Amazon (NASDAQ:AMZN) earlier in the year. The $80B mark is also higher than the caps for Nio (NYSE:NIO) $61B, Fisker (NYSE:FSR) $4B, Canoo (NASDAQ:GOEV) $2B, Workhorse Group (NASDAQ:WKHS) $1.1B and Lordstown Motors (NASDAQ:RIDE) $1.1B combined. Of note, Ford (NYSE:F) is also an earlier investor in Rivian.
Rivian aims to bring a truck and SUV to the market. The R1T truck will have a +300-mile range when it launches and the R1S SUV will feature towing capacity of 7,700 pounds. Amazon is tied pretty close to Rivian with a goal to have a delivery fleet of 10K Rivian vehicles on the road making deliveries by 2030."- JUICYgrafician
- Prepare for shorts, this won't go down well right after IPO, although the tech is good, but the valuation is preposterous & that Amazon contract is still yearsgrafician
- ...years aheadgrafician
- They're behind schedule, pivoting, the main product's tech is deficient... doesn't sound like a good investment to me. Pick it up when it hits the floor, not onzarkonite
- first offering.zarkonite
- No no, I said short it on IPO daygrafician
- but sure, it was just a suggestion, who knows, they might become the next TSLAgrafician
- It’s very difficult to short an IPO on the day it IPOs.monospaced
- Sales are usually denied for awhile.monospaced