RIVN rallies to $143B market cap - what happens when analysts post ratings?
$Rivian Automotive(RIVN.US$ is up 9.88% to $164.12 and has traded as high as $169.70 earlier in the session. Volume on RIVN is over 53M shares with several hours of trading still left.
Valuation today on Rivian moved to as high as $143B, which leaves the question of where analysts will go when the quiet period expires on December 20. The lead underwriters on the Rivian IPO were Goldman Sachs, JPMorgan and Morgan Stanley. BofA, Barclays, Deutsche Bank, Wells Fargo and a host of others participated in the underwriting. While Sell-equivalent ratings from analysts are pretty much unheard of on the first day of a quiet period expiration, other EV stocks have seen a flurry of Neutral-equivalent ratings arrive due to frothy valuations. In some cases, shares of EV high-fliers cooled off when the ratings poured in.
Other potential catalysts arrive in the early part of 2022 when Rivian starts to make some public appearances at conferences and issues the company's first earnings/production reports. There have been many share price stumbles in the EV sector when production timelines were altered due to supply chain issues, chip shortages or other hiccups.
In regard to social media interest, Google searches on Rivian, RIVN and Rivian stock are in a downtrend after the peak during the IPO.
RIVN is still a top ticker on Reddit's WallStreetBets and Stocktwits in terms of mentions. On moomoo, more people follow one-week old Rivian than 47-year old $Foot Locker(FL.US$.
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successful : $172.01 now.
Brain Gomes : When will people realize that valuations don't matter anymore? This market makes Ben Graham look like a big fool.
arts food business Brain Gomes: I read that last line as "big foot" at first, which makes sense because value investors are basically extinct.
Oavbab Brain Gomes: only for certain stocks , not all
Rickydi Brain Gomes: Ben Graham is a fool. Will he give money to all his followers who feared a crash, and missed out on this 2 year ( and going) bull run?
zukG4HQuCI : The EV stocks are clear bubble territory currently, I cannot explain the Rivian stock movements in any other way than FOMO on the next possible Tesla.
O15Cbt1QkM : Market cap more than all chinese EVs combined
RjqRwaUMHM O15Cbt1QkM: Rivian is the Shiba Inu of the EV market.
bAUwzKkxLL RjqRwaUMHM: shib is best crypto though…
moonoooooo : Can we start shorting Rivian now?
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