Is it overvalued?
Or, is it a bet on the future, cleaner energy, smarter vehicles, home-owners with solar arrays, EV incentives for consumers, a moralistic perspective on the future for our kids, etc.
Buying RIVN is a bet that Fleets shouldn't run on gas. It's a bet that RIVN sells more fleet vehicles outside AMZN. It's a bet that younger generations won't buy ICE vehicles. It's bet that companies will benefit through first mover advantages if they have an environmentally responsible code of ethics, its a bet that the cost of EV's will come down, it's a bet on Moore's law regarding the pace of EV production, its a bet that there will be a super charger infrastructure, its a bet on cultural awareness, and its a bet on something bigger and potentially better than TESLA, so it might all make a lot of sense, but its a lot of betting. Glad to make the bet, and I did that with the DSP & IPO.