$RIVN for IPO “dummies”

Why pick on $RIVN you ask?

Okay, you didn’t ask but I’ll tell you anyway.

It’s up nearly 5% today and getting some notice but it’s a fine illustration of the “IPO of Dummies” strategy (see the explanation further down this thread). and therein lies a story to tell.

The IPO for dummies strategy sets the criteria for ignoring all the hype around an IPO including never letting a broker con you into buying any of these things. Only buy in if it closed above the high of its first day of trading.

RIVN was a buy on day two and quickly ran up 30 percent which when I wrote this post. I said if it doesn’t fall back like many IPOs that 30 percent was the current risk.

THE FIRST STORY:

$RIVN has closed about the high of its IPO day at 19.46 and is a long at 22 or so with a stop loss now on a close below 19.46.

That’s the risk, and if it doesn’t look too far back everything from now on is the reward.

Simple and clear as that.

The stock is now up more than 30% on this IPO “dummies” strategy.

TODAY’S UPDATE — 1/11/2021.

RIVN fell back. Way back.

Now it looks like the hype was a one…two…eight day event. And now that eight days of exuberance…