RIVN: An Underperformed Stock to Add
$Rivian Automotive, Inc.(RIVN)$ given the volume (3rd highest behind nicola and tesla) and narrow range — we are consolidating .. so should be very interesting before earnings. I think we can break $30 a share before earnings .. and $35 after .. top top for 2023 would be $40 ..
Volume is consistently high….no doubt it will end day around $26…..or slighly higher moving towards the 30 around earnings!!…
By the way, just my advice, there's a very good chance $ARK Innovation ETF(ARKK)$ Investment rotates $Tesla Motors(TSLA)$ in favor of RIVN shares. As of late Cathy is selling TSLA. And why not? During the early days of RIVN ipo, Cathy said she won't buy RIVN due to rich valuation when SP was trading above $100's.
Now, I say is a good time for ARK to enter a bid hence RIVN is ready to mass production and sales with over 100K backlogged vehicles to deliver.
For the senior managers, Googling Rivian's Plant at Normal Illinois was amazing to see the huge manufacturing spaces. RIVIAN is here to stay. I want nothing but great success to RIVN's young CEO RJ and its employees!
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