Rivian Automotive Inc (NASDAQ: RIVN) jumped 7.34% after a new plan was
revealed that EV drivers
throughout North America will soon have greater access to charging stations after
an announcement by General Motors and six auto industry
partners: BMW, Honda, Hyundai, Kia, Mercedes-Benz, and Stellantis.
initiative aims to install at least 30,000 charging points in urban areas and
along highways, initially, to help ensure EV drivers are able to power their
batteries when they're on the road. Planning on making charging points
available to U.S. drivers starting in summer 2024, the joint venture expects to
install charging locations in Canada soon thereafter.
access to a variety of EVs, the charging points will accommodate both Combined
Charging System (CCS) and North American Charging Standard (NACS)
The joint venture will rely on both private and public funds for the
development of the charging infrastructure.
Like many EV makers in 2023, Rivian announced last month that it plans
on adopting the NACS standard.
Why the RIVN Weekly
Options Trade was Originally Executed?
Since breaking out over critical resistance at $16, shares of Rivian Automotive Inc (NASDAQ:
RIVN) haven’t looked back. The stock is up almost 87% in the last month and
106% over the previous three months. Initially fueled by production and
delivery figures that crushed estimates, the move has been sustained by
increasing short interest, analyst upgrades, and favorable price action for the
The RIVN Weekly Options Trade Explained.....
** OPTION TRADE: Buy RIVN
AUG 25 2023 26.000 CALLS - price at last close was $2.62 - adjust accordingly.
Obviously the results will vary from trader to trader
depending on entry cost and exit price that was undertaken.
Entered the RIVN Weekly Options (CALL) Trade on Tuesday, July 25,
2023, for $2.57.
Sold half the RIVN Weekly Options contracts on Wednesday, July 26, 2023, for $3.60; a
potential profit of 40%.
Holding the remaining RIVN weekly options contracts
for further profit before expiry.
Some Members Hit The Jackpot By Buying RIVN Weekly
Options At 11:50 on Tuesday, July 25, 2023, for $0.83.
This provides a profit of 334%!
Don’t miss out on further trades – become a member today!
Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs.
The company was founded in 2009 and is based in San Jose, California. Rivian is
among the greenest of the EV makers choosing to achieve carbon neutrality well
ahead of the Paris Climate Accord timeline. Rivian Automotive went public in
designs, develops, manufactures, and sells electric adventure vehicles and
accessories through direct sales to consumers and commercial markets. The
company vehicles are designed for sustainability and long lifespans across all
components with repairability and reusability key to the end result. That
includes engineering specifications such as easily removable batteries and
batteries that can be easily recycled or repurposed into stationary power packs
when their EV lifespan is spent.
offers five-passenger pickup trucks and sports utility vehicles under the R1T
and R1S labels. The R1T is a highly configurable pickup while the R1S is an
off-road capable SUV. The R1T is hailed as the world’s first EV adventure vehicle,
it began production in early 2021 and the first deliveries were made later that
same year. By mid-2022 the company had delivered more than 8,000 vehicles with
production ramping quickly.
comes with 8 different drive modes geared for offroading, city adventures, and
everything in between. Among the choices is the “Drift” mode which proactively
distributes power to offset traction control and increase the “fun” factor. The
vehicle comes with a 240 to 400-mile range depending on the battery and motor
combination and individual driving styles. In regard to its capabilities, the
truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade
through 3 feet of water with no problems.
Further Catalysts for the RIVN Weekly Options Trade…..
The rising short interest also plays an essential role in RIVN’s
ability to trade higher. As of June 30, the short percentage of the float was
13.48%, up from 13.14% as of June 15. Based on that figure, 87.9 million shares
of RIVN are sold short, equalling $1.46 billion in dollar volume. As the short
interest continues to increase steadily, short sellers might begin to doubt
their positions and start to cover.
consolidation over the past several weeks has created new critical levels of
support and resistance that could dictate the trend and momentum of the stock
once one of the levels is broken. For example, $24 has emerged as a critical
level of support in the short term.
breaks below and holds below $24, it might signal a shift in momentum, and
further downside could be on the cards as investors look to take profits and
short sellers gain confidence. On the flip side, if the stock can break above
and hold above $27, short sellers might begin to cover, and momentum traders
might go long the stock for another leg higher, resulting in a significant buy
imbalance for the stock.
is expected to post a loss of $1.42 per share for the current quarter,
representing a year-over-year change of +24.9%. Over the last 30 days, the Consensus
Estimate has changed +0.6%.
current fiscal year, the consensus earnings estimate of -$5.10 points to a
change of +19.6% from the prior year. Over the last 30 days, this estimate has
For the next
fiscal year, the consensus earnings estimate of -$3.04 indicates a change of
+40.4% from what Rivian Automotive is expected to report a year ago. Over the
past month, the estimate has changed -1.6%.
Automotive’s consensus sales estimate of $932.31 million for the current
quarter points to a year-over-year change of +156.1%. The $4.16 billion and
$7.97 billion estimates for the current and next fiscal years indicate changes
of +151.1% and +91.3%, respectively.
Last Earnings Report.....
Automotive reported revenues of $661 million in the last reported quarter,
representing a year-over-year change of +595.8%. EPS of -$1.25 for the same
period compares with -$1.43 a year ago.
the Consensus Estimate of $686.82 million, the reported revenues represent a
surprise of -3.76%. The EPS surprise was +17.22%.
last four quarters, Rivian Automotive surpassed consensus EPS estimates three
times. The company topped consensus revenue estimates two times over this
Analysts remain bullish on the stock with a consensus rating
of Moderate Buy based on sixteen analyst ratings. Ten of the sixteen analysts
have RIVN as a Buy, one as a Sell, and five at Hold. The consensus price target
is $27.11, predicting a 7.63% upside for shares of RIVN. Most recently, Mizuho,
on July 19, boosted their price target from $27 to $30, predicting a 21.5%
upside on the report date. Barclays also raised their price target from $22 to
$30 earlier in the month.
Automotive has a quick ratio of 5.08, a current ratio of 5.88 and a debt-to-equity
ratio of 0.21. Rivian Automotive, Inc. has a one year low of $11.68 and a one
year high of $40.86. The business has a fifty day moving average of $17.25 and
a 200 day moving average of $16.32.
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