Shares of Rivian Automotive climbed 48% to $118.34 in their first day of trading on Wednesday and closed at $100.73. How does everyone feel about this first day of trading?
Rivian Closes At $100 In First Trading Day
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Smart.
Did anyone trading it more actively get out after price hit the $119 range? It was followed by MASSIVE selling pressure.
If you got out around $119 (or even a bit lower), the gains would've been enough to pull out your principle and then some to be 100% risk free
If not, and you are more longer term, with 175 shares a gain of $3,977.75 would be realized.
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Likewise. It should be the next best thing to getting in on Tesla when they were in the single digits.
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Bought 10 more when it dipped below $100.
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One thing that people seem to be missing in all these posts/threads.., is the share price opened at 108+ to the general public and , briefly spiked above that.......and traded mostly under 108 level for the majority of the afternoon...if I was in on the DSP at 78, I would of sold.....and wouldn't get back in until it formed a solid support level.. (Will take many days/weeks for that potentially or if a break of today's high happens (approx 119)
Unfortunately I couldn't participate in DSP as it wasn't open to canadians...
Times are different now, but Facebooks IPO for instance.....anyone who bought on first day, weren't in the green .., until 14 months later...one thing to be in at 78, another to be buying at 100+ with no support level formed...unless you are planning to be a long term investor....(even then it is likely a little patience will give a better entry)
Unfortunately I couldn't participate in DSP as it wasn't open to canadians...
Times are different now, but Facebooks IPO for instance.....anyone who bought on first day, weren't in the green .., until 14 months later...one thing to be in at 78, another to be buying at 100+ with no support level formed...unless you are planning to be a long term investor....(even then it is likely a little patience will give a better entry)
Just read CNBC stating ‘preorder customer made millions at IPO pop’. Curious, now. Anyone actually make a million and cash out? I realize they are likely referring to stock value and customers (plural).
Cheers to those who did choose to take the ride. Great gain today- will be watching if corrections comeback next 48 hrs. Hope this is wildly successful - RIVN hits production and a new era of tech/EV thrives.
I chose not to participate - but will live vicariously through those who have. No remorse yet.
Cheers to those who did choose to take the ride. Great gain today- will be watching if corrections comeback next 48 hrs. Hope this is wildly successful - RIVN hits production and a new era of tech/EV thrives.
I chose not to participate - but will live vicariously through those who have. No remorse yet.
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I was all set to purchase my allotment of shares (and had previously confirmed my interest) and was just waiting for the final email for the IPO underwriter. Well Morgan Stanley sent me that email at 3:23 AM (I am MST, so that was 5:23 my time) with an expiration of 7:00 AM EST. So, essentially, they sent me my Buy-In notice in the middle of the night with only about an hour and a half to confirm the buy-in. Pretty disappointed that they would let Morgan Stanley do this to the base of customers that is making this whole IPO a reality...clearly Morgan Stanley did not want Rivian depositors to be involved in this IPO. I can see that others actually purchased shares. Did the ones that purchased shares get that same narrow window provided to them as well, or were some buy-in options different than others?
First of all, 3:23 EST to 7:30 EST is 4 hours. Yes, it sucks, but I don't read any malfeasance into Morgan Stanley's timing. And Rivian had no say in this. The initial invitation made it clear that the deadlines were subject to change. I was sucked into the DSP enthusiasm and checked my email regularly on the 9th.
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My email queue shows the time I received the email, not when it was sent. So, I received the email at 3:23 MST! Basically, they sent it in the middle of the night with an hour and a half option to purchase. So, my purchase option expired while I was asleep. Unlike you, I do read a whole lot of malfeasance into this and Rivian has a whole lot to say in this...do you think that the Rivian Depositor Base option to purchase IPO shares was included by Morgan Stanley?
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Could your email server be slow, or delayed the email? Perhaps your email got hung up in your server. Layers of security filters will do that with auto-generated emails. Things get hung up in my work email all the time.
I had no issues at all receiving the multiple MS emails, seemed to come through in real time. I used my gmail account.
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Glad to hear that your notice came through in a timely and reasonable manner. I use gmail as well and, since I had received prior emails from Morgan Stanley related to the IPO, don't think there was any delay in the process of receipt of the email. Perhaps, they went alphabetically and since my last name starts with a "Y" I was relegated to the end of the process...wouldn't be the first time. In any case, I would expect them to do a better job regardless. This is pretty serious stuff and I had already arranged for the money to be available from my investment account...thank god I didn't sell other stock in order to buy this no go option.
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One other thing. You mentioned "multiple emails", are you talking about the emails prior to the purchase option? Yes, I received those as well without a hitch...not time critical so didn't really pay attention to the time stamp on them. The final, most critical one, is all I am discussing. When did you receive your notice to confirm your share purchase?
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@FelixY - I received my email at 6:35 PM Pacific. Did you get any type of explanation from MS why yours was so late? Maybe they can confirm when they transmitted the email. I doubt there's any recourse regardless of when it was sent, but I'm no expert in stock purchase rules so maybe others more knowledgeable can comment.
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What's done is done...will move on.
Yes, emails starting with the one on November 2:
Important dates
- Application Deadline: November 07, 2021, 11:59 p.m. Eastern Time
- Expected Pricing Date: November 09, 2021 after 5:00 p.m. Eastern Time
- Expected Confirmation Deadline: November 09, 2021, 11:59 p.m. Eastern Time
- The pricing date and confirmation deadline are subject to change.
I received my pricing email at 8:38PM Central. If anything, it's server "malfeasance" but I don't believe that Morgan Stanley was trying to pull a fast one (and I think Morgan Stanley is basically scum, for a whole lot of other reasons).
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