Replies to post #105699 on Savvy Trades and Investments

[researcher59]

RIVN (14.36) was priced at $78 for the Nov 2021 IPO which raised nearly $12 Billion. The underwriting syndicate of 22 investment banks led by Goldman Sachs, Morgan Stanley and JP Morgan earned $169 Million, so of course they had very optimistic price targets ! They were very well paid to be optimistic. Investors got caught up in the hype, ignoring the huge challenges facing the startup. On the other hand, the shorts have made lots of money. I wish I had shorted RIVN at $180.