Yes, RIVN is a sentiment/story stock.
It could drop 75% next week and RIVN# will pat themselves on the back and say ” See, finally some rationality to the market.”
Or it could rise 75% next week and leave RIVN# dumbfounded, bewildered and broke.
Rivian has the right product at the right time. The Street will look at them under a microscope to judge for execution and extrapolate for the next decade.
Additionally to what others have said, I think 2 years ago The Street assumed all or almost all legacy OEMs would survive The Transition. Could Tesla muscle their way to 2-5% global market share? Now, I think The Street assumes many/most legacy OEMs will not survive. So this leaves an open runway for startups. Most startups will fail. But a least a few will survive.
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