Official: Rivian IPO priced at $78 per share (@ $77 billion valuation)!

[jeeden]

Thank you... Is that 11am EST?

Yes. It isn't absolute though. It can depend on a lot of stuff. People will be waiting and holding breath and then it will linger and then poof! It's off to the races all of the sudden. Here is an explanation:

https://www.barrons.com/articles/why-does-an-ipo-take-so-long-to-start-trading-51607711472

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[stumptown85]

You're mistaking IPO price and price at the start of trade as the same. They are not.

Example: Airbnb IPO price was $68...it opened at $146 and never looked back. The 52 week low is $121.50.

Those have all done well long term, but they all fell below IPO price within the first year of trading.

ABNB fell 20% below IPO within its first first month, then picked up and hasn’t fallen below IPO since

DASH went on an initial tear and then fell to 50% of IPO value 7 months later. It’s well up again.

SNOW also fell below IPO 7 months later, with some massive gains in between.

Sitting it out isn’t a bad strategy if people wait and don’t FOMO in if the stock surges. There will definitely be a small sell off 6 months from today when employees are able to sell stock —their salaries are heavily tied to stock compensation and living in California isn’t cheap.

Disclosure: I’m in for 100 now. Hoping to buy more, lower, later.

 

[stumptown85]

Thank you... Is that 11am EST?

I am hearing 10:20 am EST, but it's all rumor.

 

[patmac]

Sofi allotted me 30 shares. Less than I was hoping but glad to get some.

 

[yizzung]

Those have all done well long term, but they all fell below IPO price within the first year of trading.

ABNB fell 20% below IPO within its first first month, then picked up and hasn’t fallen below IPO since

DASH went on an initial tear and then fell to 50% of IPO value 7 months later. It’s well up again.

SNOW also fell below IPO 7 months later, with some massive gains in between.

Sitting it out isn’t a bad strategy if people wait and don’t FOMO in if the stock surges. There will definitely be a small sell off 6 months from today when employees are able to sell stock —their salaries are heavily tied to stock compensation and living in California isn’t cheap.

Disclosure: I’m in for 100 now. Hoping to buy more, lower, later.

Every example you cite went public before the pandemic when there was a massive sell off that hit all equities. More accurately stated, every company that goes public before a massive market crash will go down along with the rest of the market. Can’t look at these things in a vacuum, IMHO.

 

[jeeden]

Yup, now seeing this:

"Quotes for Rivian (RIVN) stock will open at 1010 EST with trading due to begin at 1020."

 

[Virgil T2]

RJ Will be on Bloomberg TV at 7:10 AM Pacific time, in about five minutes

 

[yizzung]

What’s going to be interesting to me is how the IPO and press coverage from it impacts vehicle orders. This is a company that still flies way below the radar but just raised $12B in the 6th largest IPO (I think I read). That’s going to raise the profile quite a bit and also allay a lot of concerns about company viability. Will be interesting to see what they report next time they report.

 

[Forager]

Every example you cite went public before the pandemic when there was a massive sell off that hit all equities. More accurately stated, every company that goes public before a massive market crash will go down along with the rest of the market. Can’t look at these things in a vacuum, IMHO.

Actually, the low points I quoted for SNOW and DASH happened in May 2021, not during the pandemic selloff in March/April of 2020. ABNB went public well after the pandemic started, December 2020, and it reached its low that same month. I’m well aware of macro trends and it doesn’t change the fact that macro events happen and can lead to bargains.

As another poster mentioned, these were all above their IPO price, though below their IPO-day closing price.

 

[stumptown85]

This article from last night has an interesting paragraph. If this is true, instead of taking profits, most of the biggest holders plan to increase their position. This is a very good sign.

"Over the years, it attracted a wide array of backers. As much as $5 billion of the IPO shares are set to be bought by investors including Amazon, T. Rowe Price, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital, Third Point Investors, Blackstone Inc., Dragoneer Investment Group and Soros Funds."

Source: https://www.bloomberg.com/news/arti...ide-ipo-price-above-top-of-range?srnd=premium

 

[brainf18]

Had someone done that with Tesla, 10k invested would be worth $2.6m today. It's not remotely crazy as an investment strategy

I purchased TSLA at $33 per share. Still own it...

 

[stumptown85]

CNBC is having live coverage now. They just confirmed Amazon is planning to double down and buy more shares. Ford is likely to offload since the lost their board seat.

This article from last night has an interesting paragraph. If this is true, instead of taking profits, most of the biggest holders plan to increase their position. This is a very good sign.

"Over the years, it attracted a wide array of backers. As much as $5 billion of the IPO shares are set to be bought by investors including Amazon, T. Rowe Price, Coatue Management, Franklin Templeton, Capital Research Global Investors, D1 Capital, Third Point Investors, Blackstone Inc., Dragoneer Investment Group and Soros Funds."

Source: https://www.bloomberg.com/news/arti...ide-ipo-price-above-top-of-range?srnd=premium

 

[echerod]

 

[jeeden]

Bloomberg saying estimate of $120 a share at opening

 

[Zoidz]

RJ Will be on Bloomberg TV at 7:10 AM Pacific time, in about five minutes

Good news - RJ is talking and explaining A LOT. But....why not do this more often?

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