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DaveA

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For anyone who setup an ACH this week (11/8-11/12) to cover their DSP...You probably need to contact MS and your bank to ensure it will go through before Monday 5pm. I just talked to MS and my Capital One ACH setup wont go through until 11/17. I setup the ACH on Wednesday. Therefore, I had to wire the $$ to cover the DSP.

Would suck if anyone lost out on their DSP for a stupid mistake like I almost just made.
My account still shows "deposits on hold" of like $12k, but the funds have been taken from my bank so I'm assuming that they have all the funds, but just aren't allowing me to move them for a few days.
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Those valuations were much, much lower. Amazon, with $3.8B invested, holds 20%. That's a valuation under $20B. I get that they invested in tranches with increasing valuation, but their last round was still in the $20's. We're at $112B now. Just nuts.
Agreed it's pretty wild stuff happening. Even on this Friday - it hit a high of $135.20. Just nuts. People are truly fearing the miss out they had on Tesla...emotional investing is never good...
 

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Rereading through the prospectus last night, I noticed that RJ's Class B shares automatically convert to Class A after five years. I don't know if I've seen that discussed anywhere.

All outstanding shares of our Class B common stock will automatically convert into one share of Class A common stock at 5:00 p.m. New York City time on the earliest to occur of (1) a date fixed by our board of directors that is not less than 60 days nor more than 180 days following the death or disability of our Founder and Chief Executive Officer, (2) the five year anniversary of the date of the closing of this offering and (3) the date fixed by the board of directors of the Company that is no less than 61 days and no more than 180 days following the date that the number of outstanding shares of Class B common stock held by our Founder and Chief Executive Officer and certain permitted transferees represents less than 30% of the shares of Class B common stock held by an affiliate of our Founder and Chief Executive Officer immediately following this offering.

Once converted into Class A common stock, the Class B common stock may not be reissued
Class B shares have 10 votes, while Class A have 1 vote.

RJ currently has 9.5% voting power of the company, but if nothing changes, his voting power will revert to around 2% by November 2026, with Amazon having closer to 20% of the voting power. Maybe that arrangement is normal (I don't know), but it makes me wonder if I've bought shares of a corporation that will be Jeff Bezos' EV company in 5 years.
 

SANZC02

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For anyone who setup an ACH this week (11/8-11/12) to cover their DSP...You probably need to contact MS and your bank to ensure it will go through before Monday 5pm. I just talked to MS and my Capital One ACH setup wont go through until 11/17. I setup the ACH on Wednesday. Therefore, I had to wire the $$ to cover the DSP.

Would suck if anyone lost out on their DSP for a stupid mistake like I almost just made.
When I setup the ACH on the 9th it defaulted to 11/12 for the date. It allowed me to pick 11/10 and that is what the MS account had for the purchase and transfer.

The ACH debit just hit my credit union this morning 11/12, so it may just be they expected a ton of activity and is taking time for it all to process allowing additional time for yesterday’s holiday calculated in the process.

Overall the process itself seemed pretty simple, I just kept checking because everything I setup was new so I had limited trust everything was properly setup by me. Fortunately it appears it was…. My biggest concern was because of the way I setup the linked account, there were no test transactions as indicated in the instructions but did say the setup was successful.
 
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When I setup the ACH on the 9th it defaulted to 11/12 for the date. It allowed me to pick 11/10 and that is what the MS account had for the purchase and transfer.

The ACH debit just hit my credit union this morning 11/12, so it may just be they expected a ton of activity and is taking time for it all to process allowing additional time for yesterday’s holiday calculated in the process.

Overall the process itself seemed pretty simple, I just kept checking because everything I setup was new so I had limited trust everything was properly setup by me. Fortunately it appears it was…. My biggest concern was because of the way I setup the linked account, there were no test transactions as indicated in the instructions but did say the setup was successful.
I think the test deposits were only required if they didn't have an integration with your bank where you could login with your bank's username/password and connect that way.
 

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SANZC02

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I think the test deposits were only required if they didn't have an integration with your bank where you could login with your bank's username/password and connect that way.
I agree and it was what I expected just interesting that information was not shared. I assumed it was all good but still did not prevent me from checking the status multiple times a day… ?
 

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When I setup the ACH on the 9th it defaulted to 11/12 for the date. It allowed me to pick 11/10 and that is what the MS account had for the purchase and transfer.

The ACH debit just hit my credit union this morning 11/12, so it may just be they expected a ton of activity and is taking time for it all to process allowing additional time for yesterday’s holiday calculated in the process.

Overall the process itself seemed pretty simple, I just kept checking because everything I setup was new so I had limited trust everything was properly setup by me. Fortunately it appears it was…. My biggest concern was because of the way I setup the linked account, there were no test transactions as indicated in the instructions but did say the setup was successful.
I called customer service and was told that they can see they have received all of the funds from my bank, despite my account still showing a deposit hold. I was told that on Monday my account should reflect everything and the hold should be cleared.

Cutting it close, but CS was confident that everything is in order right now.
 

eggpaul

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When I setup the ACH on the 9th it defaulted to 11/12 for the date. It allowed me to pick 11/10 and that is what the MS account had for the purchase and transfer.

The ACH debit just hit my credit union this morning 11/12, so it may just be they expected a ton of activity and is taking time for it all to process allowing additional time for yesterday’s holiday calculated in the process.

Overall the process itself seemed pretty simple, I just kept checking because everything I setup was new so I had limited trust everything was properly setup by me. Fortunately it appears it was…. My biggest concern was because of the way I setup the linked account, there were no test transactions as indicated in the instructions but did say the setup was successful.
Yup, I thought it was pretty sketchy that it defaulted to 11/12 for me also (with a possible transfer on 11/15). I had to change it to 11/10. Very odd.
 

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Yea...I'm still waiting for my ACH to clear on the Morgan Stanley side. When I initiated the transfer it said 11/12, and as of today the money is gone from my bank account, but Morgan Stanley still lists it as a unsettled cash trade with a deposit on hold. Hoping it clears on the MS side today.
I made my ACH transfer a few hours before the email showed up Tuesday evening. I was a little concerned when the notification said it would arrive on 11/12 and be credited on 11/15, the deadline. I'd forgotten that Thursday was a bank holiday even though I knew it was Veteran's Day. I don't know how I hadn't made that connection, as I had just returned from a funeral for an Army Veteran in Willamette National Cemetery earlier that very day.

I called my Credit Union early on the 13th, and they said it's in process. Out of paranoia, I also called Morgan Stanley and they could see it in process from their end. For good measure, I checked in again today and everyone confirmed that this timeframe is perfectly standard for ACH.

Morgan Stanley also said it should show as completed just after noon on Monday, Eastern Time. Had I remembered the upcoming Bank closures on Thursday, I'd likely have wired the funds.

Happy belated Veterans Day to those of you who served, or are now serving our country. You're the ones whose sacrifices make all of our freedoms possible.

All my best to all of you. ??
Rivian R1T R1S Official: Rivian IPO priced at $78 per share (@ $77 billion valuation)! images (10)
 

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For all the love that we Riviots have for this company, I was amazed at how many people were totally oblivious of Rivian until the IPO dominated all of the financial news this week. Now that the stock is out there, there's no putting the toothpaste back in the tube. Can't wait to see the reactions of uninitiated people when their first ever glimpse of a Rivian is in the wild!

This has been a pretty amazing week! ???
 

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For all the love that we Riviots have for this company, I was amazed at how many people were totally oblivious of Rivian until the IPO dominated all of the financial news this week. Now that the stock is out there, there's no putting the toothpaste back in the tube. Can't wait to see the reactions of uninitiated people when their first ever glimpse of a Rivian is in the wild!

This has been a pretty amazing week! ???
Now if only Rivian would make plans for a smaller van for #VanLyfe…
 

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Now if only Rivian would make plans for a smaller van for #VanLyfe…
I don't think I'm talking out of school when I say that RJ hinted that the R3 or R4 lineups may include that very setup. It would seem so logical given the skateboard architecture, along with all the lessons learned from developing and building the R1's and the "Amavan", as I like to call it. Or would "Rivivan" or "Rivan" be better?

While something like an adventure van may be considered to be a bit of a niche, I know I'd be interested. The movement seems to be getting stronger every year. The pandemic seemed to provide a good boost in the movement, as well.
 

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Well I was going to be a buy and hold to avoid cap gains, but at the end of the day @130 your capital gains are about $4000 if you sold all 175 shares and $2500 if you wait a year. Ended up selling 100 at 129.50 and basically recouped my initial investment and now have 75 free shares. So they could go to zero and I've lost nothing. Pretty awesome week. It'll offset any changes/loss to the tax credit as those 75 are worth $9700 this am.
 

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Well I was going to be a buy and hold to avoid cap gains, but at the end of the day @130 your capital gains are about $4000 if you sold all 175 shares and $2500 if you wait a year. Ended up selling 100 at 129.50 and basically recouped my initial investment and now have 75 free shares. So they could go to zero and I've lost nothing. Pretty awesome week. It'll offset any changes/loss to the tax credit as those 75 are worth $9700 this am.
I did the same. I sold @ $130 and will let my remaining 75 shares ride ”Forever”
 

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I'd like to not have a Morgan Stanley and go back to my single Schwab, but by selling on MS and buying on Schwab you realize capital gains, right? Anyone have a better idea for getting RIVN shares to another institution without realizing gains yet?
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