Rivian Due Diligence


Current Mkt Value: $13,5 Billion 

  • Balance Sheet FUNdamentals 
    • $8.116 Cash 
    • $2.583 Inv 
    • $0.258 Other 
      • $10.957 Total Current  
    • 3.8 PPE 
    • 0.387 Op Lease 
    • 0.209 Other Non-Current 
      • $15.354 – Total Ass Hats 
    • (2.086) – Current I owe you’s  
    • (5.526) – LT Debts 
    • (0.924) – BS Debt, Idk 
      • (8.536) Billy debt 
  • Company FUNdamentals – Leadership Team
    • Sustainer 
      • Tiffany, is that like Ulta?; HBS / Columbia 
    • CFO 
      • Credit Suisse / JPM; Duke / UC Booth (good?) 
    • COO 
      • Not related to Frank Munez; Daimler AG – 27 yrs 
    • Special VP 
      • Construction, RE, some hard knocks prolly 
    • Growth Dude 
      • He likes burgers, idk; Also Moon Ventures w/ Eclipses 
    • Product 
      • Stanford, Apple, Tesla, some other things 
    • Chief of something 
      • Michigan, Berkeley, Consulting, Rest & Vest @ Rivvyann 
    • The main guy 
      • PhD from MIT, probably not too hard tho 
  • Product FUNdamentals
    • R1S, R1T 
      • R2, R3, RXYZ pending but COMING SOOOON 
    • R1S 
      • Nice SUV, like 4-Runner but cooler, not Toyota 
    • R1T  
      • Actually looks like a truck, also cool 
    • Functional design, intuitive updates / tech pushes 
    • Commercial Vehicles 
      • Amazon is picky but they like them 
  • Institutional Backing / Ownership FUNdamentals – 1,000,000,000 Total Shares 
    • Amazon, VW, etc 
      • VW can’t even + needed Rivian ($4 Billion in CASH $ remaining
    • 64% Institutional Ownership (Long Only) 
      • Avg increase – +189,125 shares (399 owners) 
      • Avg decrease – (174,578) (we all make mistakes, 247 owners) 
      • Avg copacetic no movers – 174 – 3 milly shares each 
    • (12% Shorties) – 119,324,500 Shares (2.7 days to cover ish) 
    • 24-36% Highly Regarded People (US?) 
      • Are we quitters? I hope not, I hate quitting 
  • Industry FUNdamentals
    • Some love EVs, some hate em cause they aint em 
    • Increasing charging network 
    • Some people like having one ICE T, and one EV 
    • Wider adoption fuels industrial support for EVs 
    • Some are coming with longer range 
    • Gas savings, no one likes waiting in line at Costco 
      • Long COST thoughfire hot dogs 
  • **Summary** 
    • Rivvy makes good cars for good people, and wants to make more 
    • Companies have backed them and are still 
    • Some think they will fail or are waiting for something amazing, I guess 

 

  • Findings: Seems like a **buy** tbh

Target – $20 Billy for now? – $20.– share price, then $30.– eventually 

 

*Feel free to roast me, my tears will add to my resolve. Or agree, that’s nice too.* **Pls accept me. I am but a humble artist.** 


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