Official: Rivian IPO priced at $78 per share (@ $77 billion valuation)!

[Silver9k]

ford, as an example, has massive costs (debt, pensions, etc), and it’s generally going to cost them more to produce a car at the moment than Rivian or Tesla.

No reason to invest without being comfortable about it though.

Ford would just be one example, at least they are profitable. Rivian admits it will be several years before they are profitable and that they have no intention of being profitable but instead intend to grow. The valuations for most auto companies make sense. Tesla, not so much, but they're at least profitable and pioneers in the field. There is a degree of understanding to their unreasonable valuation based on potential (mostly tesla taxi). Lucid valuation simply makes no sense to me, but I would consider it the most comparable to Rivian. With that I would not be surprised to see Rivian increase above the 77b. But no, for me, they aren't anywhere near there yet. Potential with their fleet software and vehicles? Have we seen any of this yet? We didn't even see use of the UI until the press videos came out. I didn't read through all of the S1 filing though read a lot of it, didn't find anything numerical about the margins on their vehicles. I'd imagine that their operating cost percentage vs. an established manufacturer are probably not wonderful. Maybe they don't have pensions but must have higher consumables costs based simply on purchase volume. Loosing 1 billion in 2020 without even getting production going and barely having any staff? Idk, like I said love the product, REALLY want to see them succeed. But I think they need to do a bit more proving themselves before they're worth that much.

Though I'm sure investors will get to see all the new good products SOON!

Sponsored

 

[stumptown85]

DSP on MS is open now

 

[onthebrake]

BAM. Got the email !

 

[voxel]

Just got the e-mail now and logged in.

 

[DuckTruck]

Then, of course, there's this classic:



(Edit: of course, after hitting the send button, I see that the email had just been sent. Probably not related. )

 

[kommonplace]

Email received. 7am EST tomorrow (Wednesday) is the deadline to accept. Payment must be received by 5pm EST on November 15.

 

[Redline]

Here we go!

 

[moosehead]

MS Email just came through, pasted below.
________________________________

The Rivian Automotive Inc. (the "Company") initial public offering has priced at $78.00 per share and is now effective. To access the pricing terms and any free writing prospectus relating to the offering, log on to the Directed Share Program (the "Program") website.

In connection with the offering, you have been allocated shares through the Program.

To confirm

• Click the button "Confirm Allocation" below by November 10, 2021, 7:00 a.m. Eastern Time (the morning after pricing).

If you do not confirm your allocation of shares by the deadline, your allocation will be cancelled and you will no longer be able to participate in the Program.

If you do not want to purchase shares in the Program, do not complete the confirmation process. After the confirmation deadline, your indication of interest will be treated as cancelled.

Payment

Full payment of the shares that you purchase through the Program must be received by November 15, 2021, 5:00 p.m. Eastern Time. The settlement date is November 15, 2021.

Questions

The following resources are available:

• Step-by-step Video to watch how to set up an ACH transfer
• FAQ Guide to review answers to frequently asked questions

Should you require additional assistance, click Contact Us.

Please do not reply or send messages to this email address.

Thank you,
Morgan Stanley Directed Share Program Group

 

[Tommy]

Has anyone yet received their confirmation email from Morgan Stanley?

I have NOT.

Yes. I'm in. Wait for it.

 

[blturner]

Lucid doubled in value this month to 72.4 Billion. Rivian is clearly worth more than Lucid. But that does not mean that both are not seriously overvalued.

 

[simpsonhomer]

Well, I think I will spend my time waiting looking for an iPace to buy.

Jaguar will thank you for doubling their sales.

 

[scottie]

Email received, $78/share. I will buy half the 175 shares because of the shenanigans with the IPO price increase.

I'll save the remaining money I earmarked for Rivian to buy the dip!

 

[neockder]

It does appear there is no benefit to being a pre-order/dsp customer. MS is taking their cut like any other underwriter. There is no "pre-IPO" buy-in. The banks are making their money just like any other IPO.

 

[McRat]

It ends up at the final screen and says Pay by ACH or Pay by Wire.
Then I select ACH, and you need to go to Morgan Stanley, which is already funded.
But ...

Nothing. No way to pay.

 

[jennq]

I'm not a big Tesla fan, but they are really set up a 5 companies, which drives their valuation beyond comparison to Ford or GM.
1: Car maker
2: Software Company
3: Technology Company
4: Energy Storage
5: Data Collection and analysis.

and as of today, electricity provider to Texas. What could go wrong???

Sponsored