$Rivian Automotive, Inc.(RIVN)$
Several mixed Analyst upgrades since last October. Very divergent...many upgrading to BUY and upping price targets and few downgrading to HOLD/SELL. RIVN recently confirmed deliveries for 2024 and likely to see an uptick on 2025 backlog. New product lineup and expanded reach and interest in its Commercial Vans all adds up to "good vibrations" about 2H24 and FY25. RIVN announced workforce reductions several weeks ago...TSLA is just late to the game. So the May 7th earnings release will be about cashflow and balance sheet management. Any sense that RIVN will be FCF positive before 2027 would be extremely helpful for positive sentiment. Hedges have been aggressive sellers of stock - WHO's BUYING? Recent trading volumes either point to an interim bottom for the stock or the start of another renewed leg downward. The number of suppliers of pure electric vehicles is diminishing rapidly. Other than the major auto cos, looks like TSLA, BYD and RIVN are the survivors. RIVN has strong group of major shareholders.....FAILURE FOR RIVN IS "NOT" AN OPTION!!
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