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Backdrop: Rivian was founded in 2009 by RJ Scaringe, the same year he finished his doctorate in mechanical engineering at MIT. The EV maker originally set out to make a sports car, but pivoted to electric pickup trucks and SUVs due to their growing popularity among consumers. Over the past two years, the company has burned through cash (about $2B in 1H21 alone) to retool its factory and prepare for large scale production. Rivian hopes to launch three models by year's end, including an electric pickup called the R1T (deliveries began in September), a midsize SUV called the R1S and an electric delivery truck designed and built for Amazon (AMZN).
Rivian outlined its ecosystem in advance of the IPO, which includes vehicle technology, the Rivian Cloud, product development, analytics, accessories and services. The ecosystem, which also details plans for a charging network, is described as competitive in comparison to peers. Rivian estimates its total addressable market at $9T, and its serviceable available market at $1T.
On watch: Tesla (TSLA) is mentioned in the IPO filing by Rivian due to a trade secret lawsuit that is currently underway between the two companies. With Amazon a big backer of Rivian (it has a 22.4% stake), the sometimes edgy battle between Elon Musk and Jeff Bezos will extend to a degree from the space race to the electric vehicle industry. Rivian also wants to skip dealership sales like Tesla, selling directly to consumers and asking for a refundable deposit when people order their vehicles on its website. (28 comments) 
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Rivian outlined its ecosystem in advance of the IPO, which includes vehicle technology, the Rivian Cloud, product development, analytics, accessories and services. The ecosystem, which also details plans for a charging network, is described as competitive in comparison to peers. Rivian estimates its total addressable market at $9T, and its serviceable available market at $1T.
On watch: Tesla (TSLA) is mentioned in the IPO filing by Rivian due to a trade secret lawsuit that is currently underway between the two companies. With Amazon a big backer of Rivian (it has a 22.4% stake), the sometimes edgy battle between Elon Musk and Jeff Bezos will extend to a degree from the space race to the electric vehicle industry. Rivian also wants to skip dealership sales like Tesla, selling directly to consumers and asking for a refundable deposit when people order their vehicles on its website. (28 comments)
Economy
Inflation is looking a lot less "transitory" after CPI numbers for October showed that consumer prices jumped 6.2% from a year ago, while notching the fifth straight month of a figure higher than 5%. It's also the fastest rate since 1990, and while that might cause some worry in the general population, Wall Street appears to be discounting the effects. Many continue to argue that the Fed won't get too aggressive, inflation could moderate next year, while some think stocks could even benefit along with a rise in asset prices.
Snapshot: Businesses are passing on higher costs to consumers, with 60% of small business owners raising prices in the previous 90 days, according to a November survey of 560 firms by Vistage Worldwide. Companies are struggling to get materials and are delaying orders, adding to demand pressures, while a labor shortage is putting upward pressure on wages. Some feel that will need to prompt a shift in U.S. economic strategy, which sought to jolt pandemic demand through unprecedented fiscal stimulus, though others say supply logjams are at the heart of the issue and targeted spending could help ease those problems more broadly.
"Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me. With the [infrastructure] bill we passed last week, and the steps we're taking to reduce bottlenecks at home and abroad, we're set to make significant progress," President Biden said in a statement. "Very soon we're gonna see the supply chain start catching up with demand, so not only will we see more record-breaking job growth, we'll see lower prices, faster deliveries as well. This work is going to be critical as we implement the infrastructure bill and as we continue to build the economy from the bottom up and the middle out by passing the Build Back Better plan."
Outlook: The hot inflation figures continue to worry West Virginia Sen. Joe Manchin, who has been warning of fiscal spending and serious price pressures since the summer. That could further endanger the economic agenda of the White House, which has not yet given into business demands to ease tariffs on Chinese imports and failed to persuade OPEC+ to increase oil production. "From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day," tweeted Manchin, who must vote for the coming $1.75T social spending package if it has any chance of passing the Senate. (164 comments)
Snapshot: Businesses are passing on higher costs to consumers, with 60% of small business owners raising prices in the previous 90 days, according to a November survey of 560 firms by Vistage Worldwide. Companies are struggling to get materials and are delaying orders, adding to demand pressures, while a labor shortage is putting upward pressure on wages. Some feel that will need to prompt a shift in U.S. economic strategy, which sought to jolt pandemic demand through unprecedented fiscal stimulus, though others say supply logjams are at the heart of the issue and targeted spending could help ease those problems more broadly.
"Inflation hurts Americans pocketbooks, and reversing this trend is a top priority for me. With the [infrastructure] bill we passed last week, and the steps we're taking to reduce bottlenecks at home and abroad, we're set to make significant progress," President Biden said in a statement. "Very soon we're gonna see the supply chain start catching up with demand, so not only will we see more record-breaking job growth, we'll see lower prices, faster deliveries as well. This work is going to be critical as we implement the infrastructure bill and as we continue to build the economy from the bottom up and the middle out by passing the Build Back Better plan."
Outlook: The hot inflation figures continue to worry West Virginia Sen. Joe Manchin, who has been warning of fiscal spending and serious price pressures since the summer. That could further endanger the economic agenda of the White House, which has not yet given into business demands to ease tariffs on Chinese imports and failed to persuade OPEC+ to increase oil production. "From the grocery store to the gas pump, Americans know the inflation tax is real and DC can no longer ignore the economic pain Americans feel every day," tweeted Manchin, who must vote for the coming $1.75T social spending package if it has any chance of passing the Senate. (164 comments)
U.S. Indices
Dow -0.6% to 36,100. S&P 500 -0.3% to 4,683. Nasdaq -0.7% to 15,861. Russell 2000 -1.1% to 2,411. CBOE Volatility Index -1.2% to 16.29.
S&P 500 Sectors
Consumer Staples -0.3%. Utilities -0.9%. Financials +0.1%. Telecom -2.1%. Healthcare +0.2%. Industrials -0.4%. Information Technology -1.%. Materials +1.8%. Energy -1.4%. Consumer Discretionary -3.6%.
World Indices
London +0.6% to 7,348. France +0.7% to 7,091. Germany +0.3% to 16,094. Japan 0.% to 29,610. China +1.4% to 3,539. Hong Kong +1.8% to 25,328. India +1.% to 60,687.
Commodities and Bonds
Crude Oil WTI -0.7% to $80.72/bbl. Gold +2.8% to $1,867.9/oz. Natural Gas -13.3% to 4.78. Ten-Year Treasury Yield -0.9% to 130.67.
Forex and Cryptos
EUR/USD -1.05%. USD/JPY +0.46%. GBP/USD -0.56%. Bitcoin +3.7%. Litecoin +25.2%. Ethereum +2.7%. Ripple +2.4%.
Top Stock Gainers
Pioneer Pwr Sol (NASDAQ:PPSI) +155%. Nuzee Inc (NASDAQ:NUZE) +146%. Evgo Inc (NASDAQ:EVGO) +89%. Tdh Holdings Inc (NASDAQ:PETZ) +64%. Everspin Technologies Inc (NASDAQ:MRAM) +59%.
Top Stock Losers
Cn Energy Group Inc (NASDAQ:CNEY) -65%. Acutus Medical Inc (NASDAQ:AFIB) -53%. Oncorus Inc (NASDAQ:ONCR) -48%. Amyris Inc (NASDAQ:AMRS) -43%. Yumanity Therapeutics Inc (NASDAQ:YMTX) -41%.
Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.
Dow -0.6% to 36,100. S&P 500 -0.3% to 4,683. Nasdaq -0.7% to 15,861. Russell 2000 -1.1% to 2,411. CBOE Volatility Index -1.2% to 16.29.
S&P 500 Sectors
Consumer Staples -0.3%. Utilities -0.9%. Financials +0.1%. Telecom -2.1%. Healthcare +0.2%. Industrials -0.4%. Information Technology -1.%. Materials +1.8%. Energy -1.4%. Consumer Discretionary -3.6%.
World Indices
London +0.6% to 7,348. France +0.7% to 7,091. Germany +0.3% to 16,094. Japan 0.% to 29,610. China +1.4% to 3,539. Hong Kong +1.8% to 25,328. India +1.% to 60,687.
Commodities and Bonds
Crude Oil WTI -0.7% to $80.72/bbl. Gold +2.8% to $1,867.9/oz. Natural Gas -13.3% to 4.78. Ten-Year Treasury Yield -0.9% to 130.67.
Forex and Cryptos
EUR/USD -1.05%. USD/JPY +0.46%. GBP/USD -0.56%. Bitcoin +3.7%. Litecoin +25.2%. Ethereum +2.7%. Ripple +2.4%.
Top Stock Gainers
Pioneer Pwr Sol (NASDAQ:PPSI) +155%. Nuzee Inc (NASDAQ:NUZE) +146%. Evgo Inc (NASDAQ:EVGO) +89%. Tdh Holdings Inc (NASDAQ:PETZ) +64%. Everspin Technologies Inc (NASDAQ:MRAM) +59%.
Top Stock Losers
Cn Energy Group Inc (NASDAQ:CNEY) -65%. Acutus Medical Inc (NASDAQ:AFIB) -53%. Oncorus Inc (NASDAQ:ONCR) -48%. Amyris Inc (NASDAQ:AMRS) -43%. Yumanity Therapeutics Inc (NASDAQ:YMTX) -41%.
Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section.
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