I’m not a truck guy. I’ve never owned a truck. I’ve never needed a truck. The bulkiest thing I have to deal with in my life is lingering resentment toward non-paying users, and there’s no cab large enough to contain that. Still, I have always loved the looks of the Rivian, ever since I first laid eyes on one.
Surely you already know this is an electric truck, and why Tesla hasn’t made something similar is beyond me. The reason I’m bringing this up is because I’m starting to see these things EVERYWHERE. They’re all over Palo Alto. All over Lake Tahoe. And I’m starting to get that “Tesla back in 2012” feeling.
My problem is………..the chart. It can’t seem to launch. It tries again and again, and it flops every time. I was even toying with buying it this morning, but it immediately sank more than 7%, so I decided hands off. Added to which, the market in general is insanely, ridiculously, should-be-locked-up overvalued, which makes me hesitant to buy any stock, no matter HOW much of its product I see on the road.
Here’s the bigger view. Longer-term, I do think it has probably bottomed and is trying to hammer out a meaningful reversal. Were it not for the fact that equities overall are nutty-high, I’d be awfully attempted to be a lot of RIVN.
