Why stock getting hammered last few days?

[Golfer04]

Not going to repeat all the excellent points in this thread. IMO, Rivian will be interesting to watch in Georgia. They really need to limit capex spending NOW. If R2 sales don't ramp quickly in 2027 they will need a buyer. Preserving cash gives them options.

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[Cal]

As an old tesla investor (cost basis $125) I’d like to add my two cents. I invested in Tesla after we bought our first MS in 2013. It was so good that I thought there is no way these guys can go out of business. Their product is so good someone will just buy them. Went thru some pretty serious ups and downs but at the end of the day the investment worked great. That was before I realized Musk was a blatant racist and bigot.

I believe Rivian is the same way. They have too many good things that any of the other companies would kill for. Just have to be patient and hold on for the ride. It’s not so bad long as you have a long term time horizon.

I do plan on selling the remaining tesla shares and reinvest in rivian hopefully in the next couple of months.

 

[UnsungZero_OldTimeAdMan]

Why is the stock going up now? (Not that I am complaining - except should have bought some more at $12)

- June 9th delivery approaching
- electrek report of impressive efficiency

Plus… high gasoline prices due to a war of choice with no exit plan. Plus, policy change that motivated nearly all automakers operating in the US to pull back or cancel previous EV plans, which means lack of alternatives and potentially more customers for Rivian (but the street and journalists are ignoring the fact R2 production will be limited until 2028, when GA plant become operational).

 

[mdpa]

As an old tesla investor (cost basis $125) I’d like to add my two cents. I invested in Tesla after we bought our first MS in 2013. It was so good that I thought there is no way these guys can go out of business. Their product is so good someone will just buy them. Went thru some pretty serious ups and downs but at the end of the day the investment worked great. That was before I realized Musk was a blatant racist and bigot.

I believe Rivian is the same way. They have too many good things that any of the other companies would kill for. Just have to be patient and hold on for the ride. It’s not so bad long as you have a long term time horizon.

I do plan on selling the remaining tesla shares and reinvest in rivian hopefully in the next couple of months.

Musk isn't a racist or a bigot. Candidly the amount of hate I see in this forum gives me pause as I consider the Rivian R2. Based on many who engage in this forum I almost get the impression the only reason to buy a Rivian is if you have some political aversion to Tesla. Not good IMHO.

 

[Dark-Fx]

Musk isn't a racist or a bigot.

Yes he is. He has always been one. Mask just came off further and further as time has gone on. Don't know why so many Elon apologists like you exist. The "Pedo guy" incident should have convinced everyone.

You either actually care about these things, or you don't. Being okay with Elon means you don't.

 

[mdpa]

Yes he is. He has always been one. Mask just came off further and further as time has gone on. Don't know why so many Elon apologists like you exist. The "Pedo guy" incident should have convinced everyone.

You either actually care about these things, or you don't. Being okay with Elon means you don't.

Do you understand what you are writing? He is a racist and bigot, because he is a pedo….??? You are a clown because you are not a balloon. Not sure I can compete in this argument.

 

[mkhuffman]

Musk isn't a racist or a bigot. Candidly the amount of hate I see in this forum gives me pause as I consider the Rivian R2. Based on many who engage in this forum I almost get the impression the only reason to buy a Rivian is if you have some political aversion to Tesla. Not good IMHO.

I am with you and please don't paint everyone in the forum with the same brush. There are some reasonable, rational people here.

I am a huge Rivian fan, and also a huge Tesla fan. Rivian just fits my use case better.

 

[Weekend at Gary’s]

Shares were owned in taxable accounts. Loss was realized in taxable account and gives credit. New purchase is in Roth non-taxable, so any "growth" and profit/recovery won't be taxed when sold.

I’m not an account or any sorta professional …but I almost got tangled up in a similar (peculiar to me) way so I spent half a day reading the rules. also apologize for being off topic… maybe saves someone from trouble in the future.

The wash rule is not concerned with the tax structure of the replacement account. It is concerned with whether the taxpayer acquired substantially identical shares within a 30 day window. That window is forwards or backwards (in my peculiar situation). The event is overlooked by investors because brokerages don’t capture it across accounts of different tax types, the way they would if both transactions were in the same brokerage account. They (IRS) even state a spouses account (beneficiaries accounts) will be considered a replacement account for purposes of wash-sale rules. Reference:
Rev. Raul. 2008-5 - Loss from wash sales of stock or securities.

 

[SANZC02]

Hope people took advantage of the summer sale.

Picked stock up on 5/20, sold in a trailing stop loss on 6/5, 28% return in 16 days.

 

[Riviot]

I’m not an account or any sorta professional …but I almost got tangled up in a similar (peculiar to me) way so I spent half a day reading the rules. also apologize for being off topic… maybe saves someone from trouble in the future.

The wash rule is not concerned with the tax structure of the replacement account. It is concerned with whether the taxpayer acquired substantially identical shares within a 30 day window. That window is forwards or backwards (in my peculiar situation). The event is overlooked by investors because brokerages don’t capture it across accounts of different tax types, the way they would if both transactions were in the same brokerage account. They (IRS) even state a spouses account (beneficiaries accounts) will be considered a replacement account for purposes of wash-sale rules. Reference:
Rev. Raul. 2008-5 - Loss from wash sales of stock or securities.

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