$Rivian Automotive (RIVN.US)$made its public debut on Wednesday. The highly anticipated EV stock traded higher by nearly 30%, closing the day valued above many traditional automakers.
Today shares of the company are trading 18% higher and according to Loup Funds' Gene Munster, Rivian's valuation may be even more lofty than Tesla's.
I think Rivian's valuation is a full standard deviation outside of aggressive."
—— Munster said Thursday on CNBC's "Squawk Box."
Munster told CNBC the average sale price of a Rivian vehicle is about $80,000, which is similar to Tesla's Model S and X.
Tesla delivers about 70,000 of these vehicles per year, according to Munster. Rivian is expected to deliver about 1,000 vehicles this year, but if one assumes the company is able to deliver 70,000 vehicles in 2023, "that means that the valuation per vehicle delivery in 2023 is $1.3 million," he said.
Based on 2023 delivery expectations, Tesla is valued around $500,000 per vehicle delivery, Munster said.
EVs are ultimately computers on wheels, so Munster considers Tesla and Rivian to be tech companies, he said. "So when I think about Tesla and think about the long term, my opinion is this can be a $2,500 stock." Munster said he sees an important difference between Tesla and Rivian: Tesla didn't increase its growth rate to 50% until it started selling lower priced vehicles.
Mooers, do you think Rivian's market cap will surpass Tesla's in the future?

$Tesla (TSLA.US)$
Tesla has dropped sharply last night. Losing around 11%. It started with 5% to 6% dip and the fall just didn't stop and rebound like the previous few dips.
Traders and algorithms are starting to close positions and take profits on tesla.
Some retailers have also closed and take profits but do understand its not the small retailers who cause this dip by "paper handing" but it is the big players who are selling causing this drop.
We have closed down to 20ma of 1020 in just 1 day. Look like the 20ma support is not going to hold and the dip is going to be a correction. The next few supports is at 950, 895 and critical support 850.
If it breaks 850, we have a chance of entering bear market for tesla again and this can mean it's not gonna be a buy the dip situation where it will do a V shape recovery for 1400. It can mean we may break back into 700s range and consolidate for a long period again.
Do not judge too early whether tesla will or will not go back down to 800s. Let the price action determine!
As always trade safe, invest wise!

$Advanced Micro Devices (AMD.US)$ I was offered 80k RSUs of AMD in sept 2015 when I was job hunting (SWE for the "game testing/optimizing" team or something). They made me fly out 5am and back 6pm same day for the interview due to their "cost optimization program". I thought they were going bankrupt so I passed on the offer.
$2 million.