I seem to remember another retailer that did just this.
That $700 million investment was in 2019.
Are you saying that Amazon didn’t have the losses they claim on their Rivian investments?
Are these unrealized gains were talking about or did they actually sell at a loss?
Unrealized. They did not sell any shares.
@trism then they wouldn’t highlight the Rivian “loss” unless they wanted to shift blame and not institute panic; it was never really a gain in profit since it wasn’t sold just a gain in potential equity in the first place. Did they loss their equity value, yes, are they still positive, yes so no actual loss.
An example for us that don’t have Trillion dollar public companies:
Buy Jeep 4XE for 50K, it is then worth $60K but sold it later for $55K. I could tell my friends I lost $5k so they feel bad for me but truth is I made $5k.
If a publicly-traded company buys something for a trillion dollars, and that something is now worth only $100 million, they cannot continue to represent to their shareholders and on their financial statements that they have still have the original trillion-dollar asset on their books because 90% of the value is no longer there.
I’ll rely on someone more versed on GAAP, tax code, SEC regulations, etc., to put a finer point on it.
There’s quite a few of these in my town, they are always cool to see. I enjoy seeing EVs other than the constant stream of Tesla’ on the road.
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The SA comments are brutal, but entertaining.
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WSJ published another article on Rivian today. Focus is on manufacturing struggles. Sorry, article is behind paywall.
https://www.wsj.com/articles/ev-rivian-tesla-electric-trucks-11654292307
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Looks like a nice place to work…navy blue shirts and cargo pants.
ok, now i’m definitely in on this thing.
Just got a call last week assigning my build to a guide. I was one of the later people to pre-order (after the first wave of reviews came out in Sept 2021), but since I had ordered grey exterior, black interior and road wheels it has been bumped up significantly. Should have it by the end of this month.
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Are you in SoCal? I have the same configuration as you, but in white. I ordered in January. I switched from OC to mountain in hopes of getting it sooner but with all the issues people are having I don’t mind waiting. Extended Etron lease until March so no rush.
finally saw a rivian truck today. its really hard to express just how fucking ugly it is.
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Chicago area, so pretty easy to deliver to!
Maybe good news for Rivian: a potential competitor building those big EV delivery vans, Electric Last Mile Solutions (ELMS), which went public in December 2020 through a SPAC/acq, has filed for liquidation
Rivian has a lot of debt don’t they? I’m sure Amazon won’t let them fail.