George Soros buys 20 million Rivian shares. So much are the balance
Billionaire investor George Soros bought nearly 20 million shares of electric SUV-Truck startup Rivian Automotive Inc (RIVN.O) in the fourth quarter of 2021, official stock announcements showed on Friday.
The 19,835,761 shares, valued at approximately $ 2 billion, make Soros Fund Management one of the largest investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc, is expected to supply the e-commerce company with more than 100,000 electric trucks.
Rivian, headquartered in Irvine, California, in December forecast production to drop "a few hundred vehicles" from its goal of 1,200 for 2021 due to logistical problems, making its challenge to the industry leader much more problematic. Tesla. If it failed to deliver 1,200 euros in 2021 it will be difficult to deliver 50,000 euros as planned in 2022. These logistical problems have led to a fall in the value of the stock, as you can see from the underlying prices.
Shares of Rivian were down 9% on Friday and are down 43% year to date. The stock price fell 67% from its high of $ 179.46 hit on November 16, less than a week after raising $ 12 billion in its largest equity debut of 2021. So Soros bought on sale. The reasoning is simple: Amazon will not let Rivian go to hell, it will reinvest you, and given the means at its disposal, in some way, the manufacturer of SUVs and Trucks will have a future. Soros wants to take advantage of this future. Among other things, it can also say that it has invested in ecology …
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Article George Soros buys himself 20 million Rivian shares. The balance comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/george-soros-si-compra-20-milioni-di-azioni-rivian-tanto-sono-il-saldo/ on Sat, 12 Feb 2022 13:37:27 +0000.