HomeTrading NewsAre Rivian’s Electric Trucks and SUVs Overhyped?

Are Rivian’s Electric Trucks and SUVs Overhyped?

We’ve been waiting for Rivian’s IPO for years. And it finally went public this week.

If you aren’t familiar with this company, it makes electric pickup trucks and SUVs.

Rivian soared to a valuation of over $100 billion. That’s bigger than General Motors and Ford!

In today’s video, Steve Fernandez and I discuss whether you should buy Rivian’s stock.

(If you’d prefer to read a transcript, click here.)


Ian King

Editor, Strategic Fortunes

Morning Movers

From open till noon Eastern time.

Farfetch Ltd. (NYSE: FTCH) provides an online marketplace for luxury fashion goods. It is up 19% this morning on the news that it is in talks to merge its online platform with the competing one provided by Swiss luxury retailer, Compagnie Financiere Richemont.

Xometry Inc. (Nasdaq: XMTR) operates an AI-enabled marketplace for on-demand manufacturing. It is up 19% this morning, continuing its uptrend since Thursday when it announced Q3 results with both a top- and bottom-line beat.

Array Technologies Inc. (Nasdaq: ARRY) manufactures and supplies solar tracking systems. It is up 17% after reporting strong earnings for Q3 and announcing the expansion of its business through the acquisition of European solar tracker manufacturer, STI Norland.

China Evergrande Group (OTC: EGRNY), the distressed Chinese property developer, is up 17% today after managing to make an overdue bond coupon payment, averting a default in the short run.

Cellebrite DI Ltd. (Nasdaq: CLBT) provides digital intelligence solutions for the public and private sectors. It is up 14% today, continuing its growth from earlier this week when it reported strong revenues and earnings for its first quarter since going public.

Spectrum Brands Holdings Inc. (NYSE: SPB), the parent company of brands such as Black & Decker, Russell Hobbs, George Foreman, Farberware, Kwikset and Weiser, is up 12% today. The move came after the company managed to beat both top- and bottom-line estimates despite global supply chain problems.

Arqit Quantum Inc. (Nasdaq: ARQQ) is a quantum encryption technology company. It is up 12% today with no real news to report. It has been a generally volatile stock since its IPO a few months back.

Marqeta Inc. (Nasdaq: MQ) operates a cloud-based platform that delivers card issuing and transaction processing services. The stock is maintaining its upward trajectory from earlier this week when it reported great earnings and raised guidance for the rest of the year.

Apellis Pharmaceuticals Inc. (Nasdaq: APLS) is a clinical-stage biopharmaceutical company that focuses on the development of therapeutics for autoimmune and inflammatory diseases. It is up 12% after announcing plans to submit a New Drug Application with the Food and Drug Administration for a new geographic atrophy drug candidate.

Compagnie Financiere Richemont SA (OTC: CFRUY) is the Swiss luxury retailer that is planning on merging its luxury goods e-commerce platform with Farfetch Limited, mentioned earlier on this list. The stock is up 11% this morning.

No comments

leave a comment