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I panic sold this morning @$51.00 didn't like the vibe of the market not a stock I ever planned on holding long term anyway. This current market is completely bonkers.
Understandable, I picked up a little at $48, more if it keeps sliding. I'm hoping it rebounds in a year or so.
Understandable, I picked up a little at $48, more if it keeps sliding. I'm hoping it rebounds in a year or so.
Today the stock is a victim of mob mentality. People see the stock tanking and sell sell sell. Combine that with the macro market environment it's a blood bath for Rivian. Not justified IMO but that's the nature of the beast. Yes Rivian blundered by saying they were not going to make good on their pre-order prices but they did correct the mistake.
Normally I'd say this is a great buy opportunity but given the craziness who knows? Maybe the stock will rebound next week or it could slip to $30.
tl;dr: RVIN is being unfairly punished IMO. To illustrate, Lucid is slightly up right now. Why? Makes no sense.
Today the stock is a victim of mob mentality. People see the stock tanking and sell sell sell. Combine that with the macro market environment it's a blood bath for Rivian. Not justified IMO but that's the nature of the beast. Yes Rivian blundered by saying they were not going to make good on their pre-order prices but they did correct the mistake.
Normally I'd say this is a great buy opportunity but given the craziness who knows? Maybe the stock will rebound next week or it could slip to $30.
tl;dr: RVIN is being unfairly punished IMO. To illustrate, Lucid is slightly up right now. Why? Makes no sense.
Well they did retract their price increase, but the damage is done. They told the world and investors they are going to continue to lose (more) money, at around 20K more loss per vehicle sold. Granted, nobody actually thought Rivian would make money just yet, but this makes it worse
restored my preorder this morning. The way they worded the email makes it seem like options are locked to whatever it was on 2/28. I was pretty locked into my selection so no issues with my order. I also had a talk with my wife and we might just end up using the Rivian to replace both my 3 and the Ody and go down to a 2 household car. We aren't big road trippers so charging times aren't really an issue.
Normally I'd say this is a great buy opportunity but given the craziness who knows? Maybe the stock will rebound next week or it could slip to $30.
$30 is looking possible at this point. I know the markets are rough right now but damn talk about punishing a stock, Rivian is the same company they were when people were buying the stock at $150.
Wow that's like a whole months for of production right there.
The 1st pic was posted in a local FaceBook Car group yesterday, how I found out where it was, had no idea it was a couple miles away from me, and today quite a few were gone so they're going somewhere, hopefully to customers who pre-ordered.
I was going to post this video, then I saw that at least part of this subject has already been discussed (the big Rivian price-increase and apology/retraction). I'll go ahead and post it anyway, as it gives a good description of what happened and why.
restored my preorder this morning. The way they worded the email makes it seem like options are locked to whatever it was on 2/28. I was pretty locked into my selection so no issues with my order. I also had a talk with my wife and we might just end up using the Rivian to replace both my 3 and the Ody and go down to a 2 household car. We aren't big road trippers so charging times aren't really an issue.
Actually, you should just take delivery no matter what. Imagine the resale on that thing as it will cost the same as the lower end model going forward. Conceivably, you could use it for a year and sell it for the same price you bought it for. Such a great arbitrage situation.
My friend in San Francisco just took delivery of his R1T earlier this week. Looks like I need to pay a visit to get some extended seat time in one of these bad boys. They look great imo.
Actually, you should just take delivery no matter what. Imagine the resale on that thing as it will cost the same as the lower end model going forward. Conceivably, you could use it for a year and sell it for the same price you bought it for. Such a great arbitrage situation.
Yeah we're definitely going to pick it up at the original preorder price. It's just a matter of deciding whether it'll replace the Ody, the 3, or both
In other news, class action is moving forward on Rivian on the news that the IPO / price increase debacle. Should be interesting to see what happens
Shares of Rivian Automotive tumbled in after-hours trading Thursday after the company missed Wall Street’s fourth-quarter earnings expectations and forecast a modest increase in vehicle production for 2022.
Shares of the automaker were down by more than 14%, after earlier hitting a new 52-week low Thursday.
Rivian said it expects to produce 25,000 electric trucks and SUVs this year, as the electric vehicle start-up battles through supply chain constraints and internal production snags. It said reservations for its vehicles have reached about 83,000 as of March 8, up from 71,000 in December.
Bring the pain for stock holders, down over 10% in after hours was down ~10% on the day. I got lucky and got out when I did, was this close to not clicking the sell button amazing how such a small action or inaction can have huge financial implications.
03-04-22 | 12:15 PM
restored my preorder this morning. The way they worded the email makes it seem like options are locked to whatever it was on 2/28. I was pretty locked into my selection so no issues with my order. I also had a talk with my wife and we might just end up using the Rivian to replace both my 3 and the Ody and go down to a 2 household car. We aren't big road trippers so charging times aren't really an issue.
