$RIVN Rivian Oversold - Lockup Expiry Sell-Off
$RIVN Rivian Oversold - Lockup Expiry Sell-Off
This $20-$22 range looks like an attractive risk-reward scenario in my opinion. Insider/early investor lockup period expired earlier this week, driving the large sell volume yesterday. Big earnings call tomorrow reporting on a quarter where deliveries were ramping up - expecting a positive market reaction.
For comparison, Rivian's market cap now sits around $19B vs Tesla market cap over $800B. Obviously Tesla is years ahead of Rivian and has the sales and profit to back up a beefier valuation. But if Rivian grows to be even a quarter of the company Tesla is, long term there is major upside here in my opinion.
Near term price target: $32-$36 range by late May
Medium term price target: $50+ possible by mid June
Note: This is NOT investment advice. Opinion only.
This $20-$22 range looks like an attractive risk-reward scenario in my opinion. Insider/early investor lockup period expired earlier this week, driving the large sell volume yesterday. Big earnings call tomorrow reporting on a quarter where deliveries were ramping up - expecting a positive market reaction.
For comparison, Rivian's market cap now sits around $19B vs Tesla market cap over $800B. Obviously Tesla is years ahead of Rivian and has the sales and profit to back up a beefier valuation. But if Rivian grows to be even a quarter of the company Tesla is, long term there is major upside here in my opinion.
Near term price target: $32-$36 range by late May
Medium term price target: $50+ possible by mid June
Note: This is NOT investment advice. Opinion only.
**This NOT Investment advice.**