I am very tough on Rivian in this analysis.
You can plainly see there was an IPO frenzy, and now we are looking for reality. If I am a bull, I am looking at this and thinking: 'maybe I will just wait for someone else to get the buying started'. That is one of the psychological factors that plays into the bear strength. Not doing anything is what the bears want, and at the moment, I would not do anything with this stock.
I know we all look at EV's and thing that each one will run like Tesla, but Tesla is a different animal. Tesla is the new species that dominates the environment, and spreads like wildfire. Other EV's are variations of one aspect of the proto-species, but not better from a market fitness standpoint. My opinion.
Their will come a time when an EV stands on the shoulders of Tesla, but at the moment they appear to be fighting over fragments of a larger whole.
You can plainly see there was an IPO frenzy, and now we are looking for reality. If I am a bull, I am looking at this and thinking: 'maybe I will just wait for someone else to get the buying started'. That is one of the psychological factors that plays into the bear strength. Not doing anything is what the bears want, and at the moment, I would not do anything with this stock.
I know we all look at EV's and thing that each one will run like Tesla, but Tesla is a different animal. Tesla is the new species that dominates the environment, and spreads like wildfire. Other EV's are variations of one aspect of the proto-species, but not better from a market fitness standpoint. My opinion.
Their will come a time when an EV stands on the shoulders of Tesla, but at the moment they appear to be fighting over fragments of a larger whole.