Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
https://www.cnbc.com/2021/12/16/rivi...-to-71000.html
Interesting that the words in the link look super bullish, but the article itself is actually very bearish (in my opinion).
"For the third quarter, Rivian reported an operational loss of $776 million and a net loss of $1.23 billion...."
The company posted a loss per share of $12.21 on revenue of about $1 million...."
"It expects capital expenditures of about $8 billion through 2023, with some analysts such as BofA Securities’ John Murphy forecasting Rivian won’t turn an operating profit until at least 2025."
Edit: And this company is currently valued at $92B...
Another hyped meme stock down almost 50% from it's high. This one didn't take long.
Are electric vehicles cool? Yes. Are they practical? No.
There aren't enough natural resources on earth to switch over to electric on a mass scale (magnesium, lithium, cobalt, nickel).
Continues to get smashed, down 11% today and right back to those December 20th lows. Still, nothing even close to being delivered and valued at $90B.
Ya this one still has a long ways to head down. I get the value in having a huge contract with Amazon, and that 20% of it is owned by Amazon, but it's not worth THAT much. At $50K per van, that contract should bring in $5B in revenue through 2024. So maybe $1.65B annualized, unknown profit margin, and people think that is worth a $90B valuation? I don't know where the bottom is for this one, but I believe it's lower from here.
Always be skeptical of "retirements" at the top.
https://www.wsj.com/articles/rivians...up-11641849820The chief operating officer of electric-truck startup Rivian RIVN -5.61% Automotive Inc. left the company last month as the company was ramping up production of its first three models.
Rod Copes retired from Rivian in December, the spokeswoman confirmed Monday. Mr. Copes’s retirement was planned for months, she said, and his duties have been absorbed by the leadership team. As of Monday afternoon, Mr. Copes was still identified on Rivian’s website as the company’s operations chief.
RIVN announced Tuesday that prices will be increasing by roughly 20% for all customers citing rising components and materials costs—semiconductors, sheet metal, and seats. Yesterday they walked that statement back some and allowed anyone who made a "reservation" to purchase a vehicle before the announcement would not be susceptible to the 20% increase.
Ford dumped just over $400M worth of shares this past week. It's never good to see a 10% owner selling shares.
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