Rivian Raises Target IPO Price (RIVN)

[St Bernard]

@St Bernard , just curious if you still stand by your statement from Nov. 8 2021?

Yes I do. The RIS will eventually be delivered but it is certainly delayed beyond what anyone thought last year. Not even a mention on the Call. I cancelled my 9/20 LE Reservation last Fall and bought a Taycan Cross Turismo. However, I never thought the stock would hit $37.50. I sold at $88 and at the time thought I had made a mistake. It is tempting at $38 but I guess it could go much lower if they cannot deliver the RIS pretty soon. The stock was approx $100 at the time when I said if it hits $35 they are in trouble. I don’t think the Company is in trouble just lousy Management. I said on the Forum last year that RJ should hire a real CEO and concentrate on Design and Production. The Company obviously has plenty of cash. I still like the RIS and will probably order it someday when they update the Model In 2025.

Sponsored

 

[SANZC02]

Yes I do. The RIS will eventually be delivered but it is certainly delayed beyond what anyone thought last year. Not even a mention on the Call. I cancelled my 9/20 LE Reservation last Fall and bought a Taycan Cross Turismo. However, I never thought the stock would hit $37.50. I sold at $88 and at the time thought I had made a mistake. It is tempting at $38 but I guess it could go much lower if they cannot deliver the RIS pretty soon. The stock was approx $100 at the time when I said if it hits $35 they are in trouble. I don’t think the Company is in trouble just lousy Management. I said on the Forum last year that RJ should hire a real CEO and concentrate on Design and Production. The Company obviously has plenty of cash. I still like the RIS and will probably order it someday when they update the Model In 2025.

I expect to see the bulk of R1S deliveries starting in May. If you look at the delivery slot poll on this forum, the R1T was heavily weighted at the beginning and started to taper off. R1S started picking up in May with the June/July and July/August being pretty heavy.

I also think people are overreacting to the earnings report. The only delivery announcement from Rivian that I can see is the initial where they thought they could get through the 55k preorders by end of 23. That 50k number everyone is looking at thinking they slashed their estimate in half does not seem accurate. It came from an analyst who did not indicate where that number came from. Rivian also confirmed they have ramp rates that could get to 50k a year already if they could feed the line.

For me the 2nd QTR results should really show us where they are. They want to push the EDVs in the 2nd QTR and should have delivered more R1Ts and started delivering the R1S in quantity.

They are not the only manufacturer struggling with the supply chain issues yet they are still matching or beating Tesla’s deliveries from when they started production in 2012.

 

[Longhorngirl]

Yes I do. The RIS will eventually be delivered but it is certainly delayed beyond what anyone thought last year. Not even a mention on the Call. I cancelled my 9/20 LE Reservation last Fall and bought a Taycan Cross Turismo. However, I never thought the stock would hit $37.50. I sold at $88 and at the time thought I had made a mistake. It is tempting at $38 but I guess it could go much lower if they cannot deliver the RIS pretty soon. The stock was approx $100 at the time when I said if it hits $35 they are in trouble. I don’t think the Company is in trouble just lousy Management. I said on the Forum last year that RJ should hire a real CEO and concentrate on Design and Production. The Company obviously has plenty of cash. I still like the RIS and will probably order it someday when they update the Model In 2025.

RJ did mention the R1S on the call. He said he and his wife as well as Claire have been having a great time driving their R1S for the past three months. I did not think it was the appropriate time for him to be discussing this. We want to hear about customer deliveries, not how much fun you have been having.

 

[Bee]

I don’t think the Company is in trouble just lousy Management. I said on the Forum last year that RJ should hire a real CEO and concentrate on Design and Production. The Company obviously has plenty of cash. I still like the RIS and will probably order it someday when they update the Model In 2025.

So much of me agreeing with you has to do with whether or not this is true about the price-setting pre-IPO. If this was an open secret among the C-suite, that prices were fake then yeah I'm 100% with you the CEO should go. It's truly sad but playing games with the market and your product before you even have a product in said market, you should have no leash.

He doesn't bring the brand equity of say an Elon Musk and the hard parts I'm sorry to say are already over as you also surmise RIVN has reached critical mass. I'd go farther than you as to say he offers little unique in design and production even if he does have skills/vision to offer so no reason to even retain him there.

If he's absolutely crucial to the company's culture and is well loved, that would change things, I don't know how things work internally over there. This ship needs a steady captain at the helm and I'm sorry but ironically going public is also the thing that should let the guillotine fly, in principle, it's not his decision anymore.

I bought into everything right? As did we all with $1,000 down? Well let's not stick to the sunk cost fallacies, plenty of people in the world with good ideas for car companies. Time to cut the CEO and move on and if the company sinks? So be it. Learn your lessons here entrepreneurs, 0 tolerance.

Wow I'm very self righteous this morning. Sorry RJ, sure you're a good dude but shit happened.

Sponsored