It turns out Amazon didn’t just stop at buying Rivian shares privately. The tech giant also bought more shares in Rivian’s public offering. According to a recent Form 4 filing, Amazon bought $200mn worth of shares at the IPO price of $78. The purchase upped the value of its Rivian stake to slightly above 20%, worth about $21bn at the current stock price.
This is just part of the game right now with IPOs. If 95+% of IPO stock is allotted to existing investors the effective float available to new investors is vanishingly small, amplifying competition and driving up the price.
Michael Burry is saying the obvious. Elon’s new love is go to the moon. He can’t hold on to love, once he conquered it, he needs new challenges/loves, we knew that for a fact