I see Rivian vehicles every day, both in the form of cool-looking trucks as well as shiny new Amazon vans. I’ve always thought they looked sharp, and Tesla has quite clearly turned its back on this entire sector. As a chartist, I continue to think Rivian (RIVN) is good-looking, particularly given the strong surge in volume attendant with its rise.
Speaking of Tesla, the triple Fibonacci level seems to be doing a yeoman’s job of holding up prices from the battering they took last week. Break today’s low, and it could be a whole new chapter of weakness for Elon.
And, speaking of Elon (yes, folks, the segues are forced today!) I’m sure you’ve all heard that the very well-known Twitter brand has been replaced by X. The funniest remark I read was “This would be like replacing the brand Coke with the letter L.” The one and only time I met Elon (and shook his hand, to boot) was in the mid-1990s in Palo Alto when he has just started a company called x.com. That become Paypal, and I guess he just kept the domain name on a dusty shelf to use later. Well, its time has come.
I can understand the desire to shed one’s old skin, but all the same, there’s an entire lexicon built around the Twitter brand (most notably “tweets” and “tweeting”) so I’m not sure if they’ve really thought this one through. And if you don’t follow me on “X” yet, be sure to do so!
