$RIVN closed above its 200 day moving average for the first time

[strykerwsu]

How many times did you double down?

If you double your double down, is it triple down? Quadruple down?

Quintuple lol, looks like I should have at least done a sextuplet

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[Zeusy Zeus]

Sounds like I’m the worst one off in here. My average price is $60 I made a big entry point at $107 unfortunately and never sold. Fell in love with the company and my emotions clouded my judgment. Listened to all the analyst like Adam Jonás with price targets of $170 and such. Needless to say I’m down over 50% still and even though I’ve been trying to average down I’m extremely in the hole. Had to hold off on buying a house because of it. This nice run-up has been nice to see gives me some hope but I have a long way to go. Will it ever get there who knows. I think the massive shorts having to cover and the analyst PT increases explains the huge gain. Over 60% gain in a week ?.

If anyone with experience in the market or has been in a similar type of situation and can offer some food for thought I’d appreciate it.

Glad to hear a lot on here broke even and even made money though! Love this forum.

 

[MidnightRivian]

Just tripled down and picked up a bunch of shares at $24.xx during the intraday dip.

 

[DaveA]

So, a little concerned about once the R1S backlog is caught up....who they gonna sell too? Maybe van sales will prop up the company until R2?

 

[DuoRivians]

So, a little concerned about once the R1S backlog is caught up....who they gonna sell too? Maybe van sales will prop up the company until R2?

Rivian’s demand isn’t just about the backlog. It’s about a structural demand shift to EVs and also away from legacy oems. Rivian is a long term play that’ll ultimately take the stock higher than IPO and previous all time highs.

 

[DaveA]

Rivian’s demand isn’t just about the backlog. It’s about a structural demand shift to EVs and also away from legacy oems. Rivian is a long term play that’ll ultimately take the stock higher than IPO and previous all time highs.

Full aware its long term, but the market for 90k+ trucks is only so big and there is a 3 year gap before the "affordable" R2. Hope the demand for R1 can just stay solid, but since they stopped announcing preorder numbers, was just something to think about.

 

[DuoRivians]

Full aware its long term, but the market for 90k+ trucks is only so big and there is a 3 year gap before the "affordable" R2. Hope the demand for R1 can just stay solid, but since they stopped announcing preorder numbers, was just something to think about.

$90k SUV market is huge.

Edit: added reference.

https://www.gminsights.com/industry-analysis/luxury-suv-market/amp

 

[Ecupip]

Full aware its long term, but the market for 90k+ trucks is only so big and there is a 3 year gap before the "affordable" R2. Hope the demand for R1 can just stay solid, but since they stopped announcing preorder numbers, was just something to think about.

Agreed. They can sell a lot more if they start production of the dual motor and bring back the explore option pack to get the price point down.

 

[MidnightRivian]

Dual motor with LFP batteries that qualify for full tax credit will add tons of order to Rivian’s back log.

They can bring back the explore edition with dual motor and large pack for less than $80,000 and it will sell like hot cakes.

 

[cleex024]

i felt great when the prices went up over my dca of $21.50 but i sold 4k of my 5k shares at $24 and bought a decent amount of puts lol...so all my gains are gone fml. just didnt think there could be 12 straight trading days of gains...and gains of over 5% per day at that.

im still extremely positive of rivn and eventually will get back in for the long but sheesh i hope im able to get back into it lower than $24...especially for my puts for this friday =)...i hate that i love to gamble.

 

[Zeusy Zeus]

Just tripled down and picked up a bunch of shares at $24.xx during the intraday dip.

I sold a ton of covered calls at the high for January 2024.

 

[Zeusy Zeus]

Rivian’s demand isn’t just about the backlog. It’s about a structural demand shift to EVs and also away from legacy oems. Rivian is a long term play that’ll ultimately take the stock higher than IPO and previous all time highs.

Wow and I thought I was bullish on the stock… nice

 

[Zeusy Zeus]

$90k SUV market is huge.

Edit: added reference.

https://www.gminsights.com/industry-analysis/luxury-suv-market/amp

Thank you for that. Looks like it’s projected to triple by then. Interestingly enough so is the entire EV market… it’s suppose to explode. Rivian should be sitting nicely it’s only going to take a ton of time. Luckily for them they have cash on hand to last them until end of next year. They will offer more cash offerings though it’s just a matter of time. If they were smart they would ask for it now that the stock is gaining traction again.

 

[MidnightRivian]

Too early for stock offering. Squeeze shorts for 6 Months and then issue stock closer to $44.44.

 

[Zeusy Zeus]

i felt great when the prices went up over my dca of $21.50 but i sold 4k of my 5k shares at $24 and bought a decent amount of puts lol...so all my gains are gone fml. just didnt think there could be 12 straight trading days of gains...and gains of over 5% per day at that.

im still extremely positive of rivn and eventually will get back in for the long but sheesh i hope im able to get back into it lower than $24...especially for my puts for this friday =)...i hate that i love to gamble.

That sucks especially if it never goes back down again. So many short puts being covered is my guess as to why the stock has rallied. Many will take gains and run imo.

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