Should You Liquidate Your Position in Rivian Automotive (RIVN)?

Meridian Resources, managed by ArrowMark Companions, released its “Meridian Growth Fund” 3rd quarter 2022 investor letter. A duplicate of the exact same can be downloaded in this article. In the 3rd quarter, the fund returned -4.92{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} net in comparison to -.12{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} return for the Russell 2500 Progress Index. In the quarter, market dynamics worked in opposition to the fund’s expenditure strategy. In addition, you can test the major 5 holdings of the fund to know its greatest picks in 2022.

Meridian Funds highlighted stocks like Rivian Automotive, Inc. (NASDAQ:RIVN) in the Q3 2022 investor letter. Based mostly in San Jose, California, Rivian Automotive, Inc. (NASDAQ:RIVN) is an electric motor vehicle corporation that patterns, develops, manufactures, and distributes electric powered vehicles. On December 7, 2022, Rivian Automotive, Inc. (NASDAQ:RIVN) inventory closed at $27.94 for each share. One particular-thirty day period return of Rivian Automotive, Inc. (NASDAQ:RIVN) was -.46{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} and its shares misplaced 77.12{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} of their worth in excess of the last 52 months. Rivian Automotive, Inc. (NASDAQ:RIVN) has a market capitalization of $24.682 billion.

Meridian Cash created the following comment about Rivian Automotive, Inc. (NASDAQ:RIVN) in its Q3 2022 trader letter:

Rivian Automotive, Inc. (NASDAQ:RIVN) manufactures electrical cars (EVs) for the shopper and professional marketplaces. We originally invested in the company when it was privately owned. Among the the many factors that differentiate this startup is its considerable cash equilibrium and romance with Amazon, which is the two an investor in the enterprise and the initially customer for Rivian’s commercial van. Several beneficial developments contributed to share energy in the quarter, including the company’s announcement that output of its R1 pickup vehicles and EV shipping and delivery vans improved virtually 70{515baef3fee8ea94d67a98a2b336e0215adf67d225b0e21a4f5c9b13e8fbd502} about the former quarter. Administration also reaffirmed its production goal of 25,000 vehicles for 2022. Irrespective of boosting the price tag of its R1 truck before this yr, Rivian ongoing to see solid demand for its vehicles, shown by 98,000 pre-orders for its R1 truck and SUV. Although we are pleased with the company’s development, we liquidated our posture as Rivian approached the higher finish of our market place cap threshold and its relative valuation became significantly less eye-catching.”


Rivian Automotive, Inc. (NASDAQ:RIVN) is not on our listing of 30 Most Common Stocks Among the Hedge Funds. As per our databases, 30 hedge fund portfolios held Rivian Automotive, Inc. (NASDAQ:RIVN) at the stop of the 3rd quarter, which was 35 in the preceding quarter.

We discussed Rivian Automotive, Inc. (NASDAQ:RIVN) in yet another write-up and shared the very best progress shares to acquire in accordance to George Soros. In addition, you should look at out our hedge fund investor letters Q3 2022 page for extra investor letters from hedge resources and other major traders.


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Disclosure: None. This posting is originally revealed at Insider Monkey.

Francis McGee

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