Should You Still Keep Your Rivian Automotive (RIVN) Position?

Claret Asset Management, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. In its fourth-quarter letter, the fund talked about the 11 plus one “Interesting” or “Surprising” things about 2021, and described the past year as “another amazing year that few would have predicted and surprised everyone far more positively than expected”. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Claret Asset Management, in its Q4 2021 investor letter, mentioned Rivian Automotive, Inc. (NASDAQ: RIVN) and discussed its stance on the firm. Rivian Automotive, Inc. is an Irvine, California-based electric vehicle automaker and automotive technology company with a $57.4 billion market capitalization. RIVN delivered a -37.29% return since the beginning of the year and it closed at $65.02 per share on January 20, 2022.

Here is what Claret Asset Management has to say about Rivian Automotive, Inc. in its Q4 2021 investor letter:

“Rivian has delivered only about 150 electric pickup trucks and is trading at a market cap of $100+ billion… Lucid has sold slightly over 500 electric cars and is valued at over $65 billion… Closer to home, Lion Electric has delivered 390 all-electric heavy-duty vehicles in the last 10 years and its market cap is close to $1.9 billion, a shadow of the peak of $6.7 billion reached only a year ago… on a side note, it is extremely interesting to go through the list of defunct automobile manufacturers in the US alone. Look it up yourself with this link. You will notice that most of them went bust between 1900 and 1925, the golden age of automobiles.”

Copyright: dolgachov / 123RF Stock Photo

Our calculations show that Rivian Automotive, Inc. (NASDAQ: RIVN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Rivian Automotive, Inc. (NASDAQ: RIVN) delivered a -32.86% return in the past month.

In December 2021, we also shared another hedge fund’s views on RIVN in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.