Rivian NASDAQ:RIVN is at an all time low right before earnings. "I want to own some of this company" is my general thesis as they build out their infrastructure sans sales. We'll see if this contrarian buy of shares pays off...
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YIKES... this is why I don't do these trades! I guess I am a "long term investor" now... *blech*
Look at that valuation man. I would sell calls against your position. This might be a buy in the single digits.
anglecurveball
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@Mike_Geraci, there is a road ahead, do you believe it will go straight to single digits? Opportunities even in this market but very risky.
Mike_Geraci
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@anglecurveball, Im selling naked Jan '23 calls on any bounces. Low margin requirements and high premiums. Making bank. As for targets...Im looking at valuations and comparing to something like TSLA. It took years to become productive. I can't see the tide really changing for RIVN for a couple years personally. Single digits might be a bit exaggerated but its got much lower to go IMO.
anglecurveball
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@Mike_Geraci,The speed this stock went down in the last 2 weeks, from 70 to 38 confirms what you are saying, totally agree and like your reply. Thanks. A company backed by big boys halved in less than 2 weeks. Abnormal
anglecurveball
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Thanks for your post. RIVN entered an interesting price area, the last drop.. post market *blech* indeed. Let's see if a bounce on short term is still viable. GL
boji1
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I bought and sold a bit of MULN a few weeks ago after they had a press release related to battery technologies. Not to be over-skeptical, I think RIVN, NULN, NEO, et al, have some good leadership and can all hopefully get vehicles on the road, but I think there will be a shakeout of these companies. However, based on their IPO price, it would sure seem they have some upside opportunity. I appreciate you and others sharing thoughts. -d
norok
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@boji1, I think they IPO'd at the right time for IPOs... when EV hype was at an all time high. I try to remind folks that companies do not IPO for retail investors' benefit... they IPO to cash out early capital. That being said, I have friends that are getting jobs with the company and they are opening a $5 billion facility in my states so I have an interest in the company.
boji1
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@norok, That's fantastic. I did a few quick in/out trades of RIVN after the IPO, and am glad I didn't decide to go long at that point. Have you looked at MULN at all (sorry I said NULN incorrectly above). After college, I worked in Robotics and worked for a company that ended up going bankrupt. Following that life experience, I thought "gee if only they had sold some of their component parts instead of trying to build a robot." I think some of these car companies may be best served to try to partner and settle in by OEM'ing some of their core technology to competitors, to survive long enough to build a car/truck.
anglecurveball
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@boji1, imho you nailed it in your last sentence. Thanks for sharing.
lauralea
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@norok, Just a bit scary when an IPO or newer stock without years of support built up, goes below all support levels cos seems they can nose dive )o: I like this one but will watch I guess for now/thx