Price Action - Today and Beyond
The DoE news is huge. Rivian has several things working in its favor lately.
- DoE For Georgia expansion
- Production target met
- IL factory expansion for R2
- VW partnership on software (could be a multi billion business)
- GP Profit (assured multiple times)
- More EDV partnerships (likely)
And most importantly, Elon and Bezos bromance. I am quite confident that the withdrawal of lawsuit between Tesla and Rivian was because of Elon’s changed position.
Elon will hopefully (and likely) not suppress Rivian as the market was expecting.
Today might be range bound (option expirations). However, in coming weeks Rivian could have a lot of positive price momentum.