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Why Rivian Stock Popped Today

Bullitt

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Sorry to hear about the "no ETA". What made purchasing insurance such a PIA? I'm guessing something to do with the VIN??
No worries and thanks! Learning to let go. Hahah.

It wasn’t the VIN… it was that AAA had no Rivian vehicles in the system. They had to get all the details added and their systems recognizing Rivian as a car manufacturer before they could add it to my policy. sounds easy enough but it took 5 different people at AAA and a week of working on it to figure it out. Worried if I cancel and redo it they’ll raise the rates! That and the moment I cancel I’m sure I’ll get told it’s ready to deliver. 😔
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Sgt Beavis

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I bought my 300 shares at $49, but based on the profits from my original investment, I'm pretty much back in the black on my overall investment. I hope Rivian has better news tomorrow. They need a good plan to handle the new tax credit until the dual motor R1's come online.
 
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jakef801

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I bought my 300 shares at $49, but based on the profits from my original investment, I'm pretty much back in the black on my overall investment. I hope Rivian has better news tomorrow. They need a good plan to handle the new tax credit until the dual motor R1's come online.
So you mean you traded some shares early on for a profit, but now have a basis of $49 on 300 shares (purchased with your earlier gains)? I bought some early on in the $90s, but have averaged down. My current basis is $51 on 600 shares - I'm long RIVN.
 

CharonPDX

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Yeah, I've got my max-allowed-IPO shares, plus a few at $100 from the market. Holding for a while for sure.
 

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NY_Rob

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Any particular reason the stock dropped almost 5% today?

Rivian R1T R1S Why Rivian Stock Popped Today 1660769709581
 

SANZC02

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Any particular reason the stock dropped almost 5% today?

1660769709581.png
Possibly the new tax incentive but more likely just people taking some profit. The volume was not all that high compared to average. I do not see anything to worry about.
 

Craigins

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Any particular reason the stock dropped almost 5% today?

1660769709581.png
normal market fluctuations. I always plot Rivian against Lucid and Nasdaq. Typically RIVN follows the same trend as Lucid, but with more volatility (higher peaks, lower dips).

I believe with inflation/interest rates, the market frowns upon growth stocks like RIVN so they seem to get dinged when the market takes a down turn. Theory being, it is harder to secure funding with higher inflation/interest rates I guess. Even though Rivian has plenty of cash on hand.
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