Rivian Forum – Rivian R1T & R1S News, Pricing & Order... banner
1 - 5 of 5 Posts

·
Registered
Joined
·
360 Posts
Discussion Starter · #1 ·
I view this as a guardedly optimistic vote on Rivian. Soros, like Warren Buffet, usually takes a long-term view of his investments, and in this case, seems to have decided that the recent downturn in Rivian stock price presented a good buying opportunity.

Billionaire Soros buys stake in EV startup Rivian

NEW YORK, Feb 11 (Reuters) - Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc (RIVN.O) in the quarter ended Dec. 31, securities filings showed Friday.

The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc , is expected to provide the e-commerce company with more than 100,000 electric trucks.

Irvine, California-based Rivian said in December it expected production to fall "a few hundred vehicles short" of its 2021 target of 1,200 due to supply chain constraints, highlighting the likely challenges in ramping up production to take on EV leader Tesla Inc (TSLA.O).

Shares of Rivian fell 9% Friday and are down 43% for the year to date. The stock price is down 67% from the high of $179.46 it touched on Nov. 16, less than a week after it raised $12 billion in the largest stock debut of 2021.
 

·
Registered
Joined
·
7 Posts
NEW YORK, Feb 11 (Reuters) - Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc (RIVN.O) in the quarter ended Dec. 31, securities filings showed Friday.

The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc , is expected to provide the e-commerce company with more than 100,000 electric trucks.
I saw this article too... But, I believe that customers, and therefore consumers, HAVE taken delivery of vehicles from Rivian...
 

·
Registered
Joined
·
1,592 Posts
I view this as a guardedly optimistic vote on Rivian. Soros, like Warren Buffet, usually takes a long-term view of his investments, and in this case, seems to have decided that the recent downturn in Rivian stock price presented a good buying opportunity.

Billionaire Soros buys stake in EV startup Rivian

NEW YORK, Feb 11 (Reuters) - Billionaire investor George Soros bought nearly 20 million shares of electric truck startup Rivian Automotive Inc (RIVN.O) in the quarter ended Dec. 31, securities filings showed Friday.

The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle. Rivian, which is 20% owned by Amazon.com Inc , is expected to provide the e-commerce company with more than 100,000 electric trucks.

Irvine, California-based Rivian said in December it expected production to fall "a few hundred vehicles short" of its 2021 target of 1,200 due to supply chain constraints, highlighting the likely challenges in ramping up production to take on EV leader Tesla Inc (TSLA.O).

Shares of Rivian fell 9% Friday and are down 43% for the year to date. The stock price is down 67% from the high of $179.46 it touched on Nov. 16, less than a week after it raised $12 billion in the largest stock debut of 2021.
He made a bunch of interesting moves along with buying Rivian stock. He sold a bunch of shares in Apple and Amazon.


Soros Fund Management reduced its holdings of big tech stocks prior to January’s market tumult, while disclosing a $2 billion stake in electric pickup maker Rivian Automotive Inc.

George Soros’s investment firm slashed its stake in the Invesco QQQ Trust Series 1 (ticker QQQ), the biggest exchange-traded fund tracking the tech-heavy Nasdaq 100. It held just $9.4 million at the end of December, down from $356.2 million at the end of the third quarter, according to a regulatory filing Friday. It also trimmed positions in Amazon.com Inc. and Alphabet Inc.

The New York-based firm disclosed it held more than $2 billion in shares of Rivian, which went public in November, and revealed a new $13.3 million holding in Peloton Interactive Inc. The value of its U.S. equity portfolio jumped by $1.2 billion to $6.5 billion, thanks in part to its stake in Cerner Corp. Those shares jumped more than 31% in the fourth quarter after Oracle Corp. agreed to acquire the the medical-records systems provider in December.

The billionaire philanthropist’s investment firm manages more than $28 billion, including public and private equity. Soros, 91, has used his fortune to fund groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations. He’s poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than to the Soros family. His personal wealth is estimated at $7.5 billion, according to the Bloomberg Billionaires Index.

Money managers overseeing more than $100 million in U.S. equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges. It’s one of the few places to gain insight into how hedge funds and some large family offices invest.
 

·
Registered
Joined
·
2,401 Posts
He made a bunch of interesting moves along with buying Rivian stock. He sold a bunch of shares in Apple and Amazon.


Soros Fund Management reduced its holdings of big tech stocks prior to January’s market tumult, while disclosing a $2 billion stake in electric pickup maker Rivian Automotive Inc.

George Soros’s investment firm slashed its stake in the Invesco QQQ Trust Series 1 (ticker QQQ), the biggest exchange-traded fund tracking the tech-heavy Nasdaq 100. It held just $9.4 million at the end of December, down from $356.2 million at the end of the third quarter, according to a regulatory filing Friday. It also trimmed positions in Amazon.com Inc. and Alphabet Inc.

The New York-based firm disclosed it held more than $2 billion in shares of Rivian, which went public in November, and revealed a new $13.3 million holding in Peloton Interactive Inc. The value of its U.S. equity portfolio jumped by $1.2 billion to $6.5 billion, thanks in part to its stake in Cerner Corp. Those shares jumped more than 31% in the fourth quarter after Oracle Corp. agreed to acquire the the medical-records systems provider in December.

The billionaire philanthropist’s investment firm manages more than $28 billion, including public and private equity. Soros, 91, has used his fortune to fund groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations. He’s poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than to the Soros family. His personal wealth is estimated at $7.5 billion, according to the Bloomberg Billionaires Index.

Money managers overseeing more than $100 million in U.S. equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on U.S. exchanges. It’s one of the few places to gain insight into how hedge funds and some large family offices invest.
Props to him for likely pulling us out of the $50 price level and back into the $60+
 
1 - 5 of 5 Posts
Top