Rivian (RIVN) added to Russell 1000 Index. Lucid and Nikola stocks removed

[Electric Rivilution]

https://www.lpl.com/research/blog/russell-reconstitution--what-it-means-for-investors.html

The Russell 1000 had its annual reconstitution on June 27. Rivian

• Notable stock additions: Super Micro Computer Inc. (SMCI), DraftKings Inc. (DKNG), Duolingo Inc. (DUOL), Roku Inc. (ROKU), and Rivian Automotive Inc. (RIVN) – all from either the technology or consumer discretionary sector.
• Notable stock removals: Beyond Meat Inc. (BYND), Plug Power Inc. (PLUG), Lucid Group Inc. (LCID), Nikola Corporation (NKLA), and FuboTV Inc. (FUBO).

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[Oldsmobile_Mike]

So funds that track that index will now be buying a small amount of RIVN, right? What else? Potential upsides or downsides?

 

[Time2Roll]

Next stop SP500 if they can turn a profit.

 

[mkhuffman]

I am still down 60% (even after averaging down) so any boost is appreciated.

 

[Laserboy1054]

Next stop SP500 if they can turn a profit.

MDY first. It's a big jump from small-cap to large-cap!

 

[mkg3]

Next stop SP500 if they can turn a profit.

Be profitable for at least 4 consecutive quarters. Then they qualify for consideration by S&P.

No more environmental credit sales (which is the reason they showed gross profit the last two quarters) and complete loss of EV incentives after this quarter. No help for R2 sales.

Add costs involved in ramping up R2, if Rivian can survive and get to real profitability, to qualify for S&P500 will probably be at least late 2027.

I am not holding my breath for this to happen anytime soon, if ever.

 

[CharonPDX]

I am still down 60% (even after averaging down) so any boost is appreciated.

Lucky you.

(And this doesn't count my much bigger holding from IPO, although these shares were purchased at slightly above IPO price.)

 

[Gen(R3)Xer]

Next stop SP500 if they can turn a profit.

Yep, that’s what happened to Tesla. Rivian is trying to follow in their footsteps. I hope the R2 is Rivian’s Model Y moment. We need more affordable EVs in the US!!!

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