Rivian (NASDAQ: RIVN) is due to report income after close today as Ford (NYSE: F) is reportedly selling eight million RIVN shares at a discount this week. RIVN closes green last night as bargain hunters moved in to swoop as many low priced shares as they could find. RIVN closed in after hours trading last evening at $22.95 per share, slightly higher, as investors await the news. At its IPO, RIVN stock was at $172 per share and market value was $91.9 billion. Despite all that drama, Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) continues to see electric cars and its EV Charging Station business as sound — it just received a 5-year grant from the federal government for EV Charging Stations.
stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).
Rivian (NASDAQ: RIVN) Does Not Get An ‘F’ As Ford (NYSE: F) Reportedly Selling Eight Million Shares At A Discount This Week; RIVN Due To Report Earnings After Close Today As Shares Close Green Last Night; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Believes In EV Charging Station Industry As Electric Car Competition Intensifies
Rivian (NASDAQ: RIVN) has come a long way from its IPO late last year when players such as Ford (NYSE: F) and Amazon (NASDAQ: AMZN) were revealed as equity owners. Rivan reported a loss of $2.46 billion for Q4 in 2021 compared with a loss of $353 million a year earlier. Now, a Rivian stock resurgence is seen as some investors see the significant stock price drop as a buying opportunity. Rivian’s new electric truck R1T priced at $67,500 will face Ford’s Lightning truck priced at just $40,000.
As a result of that truck-to-truck competition, it appears that Ford (NYSE: F) is now dropping its stock position in Rivian. Vivian stock has taken a significant decline since its IPO late last year and announcement it could not meet its production goals in 2022. Now, RIVN management says based on the company’s 2,553 production in Q1, it will meet its revised goal of 25,000 EV vehicles produced in 2022. The company is definitely is drawing more interest as its stock price has dropped and it has righted itself on production goals.
Despite the turnaround in its production meeting first year goals, RIVN concedes that it does not plan to become profitable for the foreseeable future. The funds it raised in its IPO are being used for working capital and for other general corporate purposes, it says. Rivian (NASDAQ: RIVN) Does Not Get An ‘F’ As Ford (NYSE: F) Reportedly Selling Eight Million Shares At A Discount This Week; RIVN Due To Report Earnings After Close Today As Shares Close Green Last Night; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Believes In EV Charging Station Industry As Electric Car Competition Intensifies.
Supply chain issues are still a factor for the company — especially semiconductor chip shortages — even while it reports production progress. Despite all of this, RIVN still predicts the company will achieve a 10% market share of the electric car market by 2030. Now it faces a lower-priced Ford (NYSE: F) 150 ‘Lightning’ truck with greater than 200,000 buy reservations.
Amazon appears to be holding its position in Rivian — along with its announced orders for thousands of trucks as delivery vans for its primary business on line business.
Rivian’s shares have dropped 78% this year-to-date. But the future potential in the dynamic electric car business is intriguing to investors. At a bargain price, latecomers appear to plentiful. In fact, Ford reported it made an $8.3 billion paper gain on its Rivian stock. But it and other early investors appear to be selling off the stock it first bought after the mandatory-hold IPO period.
SIRC and other EV Charging Station installers hope that Rivian (NASDAQ: RIVN) will make gains in the electric car industry. Word at the time of Rivian’s launch among Wall Street insiders was that investors were heavily betting on Rivian’s IPO because they may have missed the success of Tesla (NASDAQ: TSLA). They weren’t going to miss the Rivian IPO.
The electric vehicle business is solid and so is its supporting EV Charging Station industry. SIRC says that it has refocused its business strategy on EV Charging Stations and in addition to its PLEMCo., subsidiary, it is doubling down on the industry’s future with its recently signed LOI to acquire thee LA-based complementary EV Charging Station businesses. SIRC is also an applicant to FINRA for a corporate name change to SolarEV, reflecting its refocused business strategy.
Electric car sales in the U.S. are soaring, more than doubling in the 1st half of 2021. Ford (NYSE: F), General Motors (NYSE: GM) and foreign OEM makers, such as Mercedes-Benz, Volkswagen and BMW AG, are setting self-imposed deadlines of 2030 for all-electric model lines.
Rivian (NASDAQ: RIVN) Does Not Get An ‘F’ As Ford (NYSE: F) Reportedly Selling Eight Million Shares At A Discount This Week; RIVN Due To Report Earnings After Close Today As Shares Close Green Last Night; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Believes In EV Charging Station Industry As Electric Car Competition Intensifies.
To Solar Integrated Roofing Corp. (OTC PINK: SIRC) subsidiary PLEMCo., the underlying EV Charging Station space is a critical growth area. To OEM electric car and truck makers, range anxiety remains important to closing sales. To SIRC, EV Charging Stations could be an important opportunity.
To overcome range-anxiety potential buyers, the home and street EV Charging Station population must be high enough to be high profile and relax the EV customer. Potential buyers must see enough EV Charging Stations to be confident that longer road trips are possible.
GM is all-in on electric vehicles. General Motors (NYSE: GM) plans to introduce 30 all electric vehicle models globally by 2025, beginning with its first electric pickup truck now being shown at trade events. It is a competitor to Ford’s (NYSE: F) new ‘Lightning,’ an electric version of its best-selling ‘150’ pickup truck. The ‘Lightning’ already has 150,000 non-binding buy reservations.
Rivian plans to out-design the market with an eye-catching splashy sporty sedan. While GM and Ford continue to electrify their traditional pickups and SUVs.
To SIRC, government tailwinds are important in this industry. SIRC is one of only 16 companies to receive a 5-year government grant to build EV Charging Stations in the future.
The EV Charging Station industry, supporting the electric car industry, is seen as a sweet spot in the future. GM’s goal is $280 billion by 2030 in electric cars, as it partners with EV charging company EVgo (NASDAQ: EVGO) for the installation of fast chargers.
Rivian (NASDAQ: RIVN) Does Not Get An ‘F’ As Ford (NYSE: F) Reportedly Selling Eight Million Shares At A Discount This Week; RIVN Due To Report Earnings After Close Today As Shares Close Green Last Night; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Believes In EV Charging Station Industry As Electric Car Competition Intensifies.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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