Hedgeye CEO Keith McCullough is adding Rivian (RIVN) to the long side of Investing Ideas. Below is a brief note.
After buying some Tech (QQQ), McGough (Consumer Discretionary)... what Sector Style am I fishing for here in #Quad1?
A: Industrials (especially the sexy ones).
This is as sexy as Industrials analyst Jay Van Sciver might get: Long Rivian Automotive (RIVN):
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Rivian is set to be one of the largest IPOs of the last decade toward the end of November, targeting a hefty $80 billion valuation. The well-funded electric vehicle start-up offers vehicles in the higher value segments of the auto market with innovative ‘adventure vehicles’, the R1T pick-up truck and the R1S SUV. On the commercial vehicle side, Rivian is a prospective supplier to Amazon with its EDV platform…positioning the company as another front for the Bezos v. Musk twelve-digit billionaire battle. |
No, I didn't have you chasing this stock like a CNBC baboon at $175/share.
KM
