Rivian automotive

Bottoms are extremely hard to call…
When I posted back then , this had an island reversal and formed a V bottom. So nothing to special to report..
Remo

Remo,

Not been keeping an eye on this one but it looks like you saw the bottom here.
Now that is something i am not very good at.
Can you share how you saw this?
Best wishes
Elena

Remo,

This is an interesting company but it has only just started manufacturing.
There is a good background on wiki here
en.wikipedia.org/wiki/Rivian

They are supposed to be developing a fully electric delivery van for Amazon.
They are talked about as a competitor for Tesla but I doubt this.
Where do they get their batteries? Tesla build their own and supposed to have one of the lowest overheads.

My gut feeling is to short this share because they lose billions in a year and unless they become profitable within 3 years at the current burn they run out of money.

Maybe wait until they start making a profit?

Thanks Remo

I'll keep an eye out.

Please keep posting.

This could be a good one for the long term from these prices…2430,,,,,was as high as 16000 so has a big correction.
It’s market cap being 18billion,
It has 17billion in cash…
So from that point of view seems like a bargain currently….considering its dropped from a market cap of 160billion.

Technically, its still in a down trend ….