RIVN is engaged in designing, developing, and manufacturing electric vehicles. The company has the backing of Amazon and Ford which together own roughly 27% of the company. It is worth mentioning that Ford sold some shares recently. At this stage it is extremely difficult to value the company but if we can use where Tesla used to be at this stage as a guidance, we come up with a value of $40 per share. The stock is trading at $32 today, however we don't think it represents a deep enough discount for the risk taken yet.

It doesn't look very good on the technicals as of right now either. It has immediate resistance at $34 then $40. Short term traders can probably play the move above $34 up to $40 and investor can look to start a position around $25 if given the opportunity.