It's getting a bit crowed in the EV market-space and some EV makers like Rivian need to do more than their competitors otherwise they will end up being yet another EV maker, which now is not enough.
The Amazon fleet partnership is very positive and several other deals in Europe too. However, Rivian just needs other ways to utilise its technology just like what NIO is currently doing in China.
If Rivian follows that path and avoids being just a generic EV maker, then its stock is a straight buy in my books but I would hold for now and see what the competitors (especially Lucid Motors) are also doing first in October.
Yes Lucid Motors is at half the valuation and doesn't rely on only one customer who may not purchase any vehicles. I think this IPO will not go super well due to the valuation and Lucid will ultimately benefit from the attention.
I'm surprised they didn't price a bit lower so they could guarantee a first day pop. At this price, many of the people I know who have loved Rivian for years will not be buyers. I'll be curious if there are enough others to support the valuation. I believe it will be the second most valuable car company after Tesla?
just curious . what is lucid doing unique. they seem to be a straight copy of Tesla. any company going public through SPAC kind of indicates they just want to cash out on the current craze and may not offer long term value.
Rivian doesn't strike me as "just another EV maker" at all. Their products are focused on utility and sports, not mall parking lots or straight-line speed.
The Amazon fleet partnership is very positive and several other deals in Europe too. However, Rivian just needs other ways to utilise its technology just like what NIO is currently doing in China.
If Rivian follows that path and avoids being just a generic EV maker, then its stock is a straight buy in my books but I would hold for now and see what the competitors (especially Lucid Motors) are also doing first in October.