yizzung
Well-Known Member
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- Jul 30, 2020
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They have a $90B market cap. You're kinda making it sound like they're about to declare bankruptcy...That said, Rivian HAS TO DELIVER and return faith to the investors
Going from $200 to $100 is not a sign that investors lost confidence. It's a sign that this is a super frothy market with crypto day-traders doing silly things (like bidding the stock up to that high in the first place) and new covid variant news spooking everyone (causing widespread selling).
Post-IPO stocks are incredibly risky and volatile. It just goes with the territory. People are betting on Rivian right now because it has grown-ups at the helm and a lot of actually manufacturing know-how combined with a good product vision.
They didn't just launch a website last week. They've been at this for more than a decade and (despite global pandemic, supply chain woes, etc.) they are doing a fine job SO FAR at generating demand. Jury still out on how well they can satisfy that demand but EVERY carmaker is struggling with this now so Rivian will likely be graded on that curve.
Disclaimer: I bought IPO shares and remain long RIVN
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