$Rivian Automotive, Inc.(RIVN)

2023-10-23

$Rivian Automotive, Inc.(RIVN)$ Yesterday, for no apparent reason, the stock saw a sudden surge. However, just after the market closed, news broke that the company plans to issue $1.5 billion in convertible bonds, and today the stock plummeted more than 13% (still ongoing as I write this). This situation reminds me of another company that pulled a similar move, $Snap Inc(SNAP)$ Snap Inc. (SNAP). I should have a post from last year where I specifically wrote about this. Since then, I've steered clear of Snap and won't go long on it again. I'll dig it up and pin it for a few days when I have time.

I strongly advise staying away from companies that exhibit these kinds of behaviors. Any gains you make by going long during certain periods are destined to be stripped away in the company's future "robbery" actions. Profits gained from such companies are not only short-lived but also leave a bad taste in your mouth in hindsight, much like a mouthful of flies.

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