20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Rivian Automotive, Inc. (NASDAQ:RIVN) has the distinction of launching the first electric pickup truck — the R1T, ahead of Ford Motor Company’s (NYSE:F) F-150 Lightning truck and Lordstown Motor Corp.’s (NASDAQ:RIDE) Endurance.
Late Wednesday, the Irvine, California-based electric vehicle company shared another feat concerning the R1T.
What Happened: Rivian’s 2023 R1T quad-motor with large-pack battery and 21-inch wheel now has an estimated range, based on Environmental Protection Agency standards, of 328 miles, the company said in a tweet. The range of an EV is the distance covered between two charges.
The 22-inch 2023 R1T model has a range of 303 miles and the 20-inch variant has a relatively lower range of 289 miles, according to information available on EPA's website.
This R1T model is now the highest-range EV truck in the market, Rivian said.
The company also said there is scope for a further increase in the range, helped by software updates that can improve vehicle efficiency.
See also: Best Electric Vehicle Stocks
R1T Vs. Rival Offerings: In comparison, Ford’s base trim — the F-150 Lightning Pro, has an EPA range of 240 miles for the 2023 model. The F-150 Lightning XLT’s range is 240 miles for the standard model and 320 miles for the extended-range model. Lordstown’s 2023 Endurance has a range of 193 miles.
Tesla, Inc.’s (NASDAQ:TSLA) Cybertruck, which has long been in the works and is expected to be launched by 2023, is advertised on the EV maker’s website as having a range of up to 500 miles for the tri-motor all-wheel drive version. The single-motor rear-wheel drive and dual-motor RWD variants will likely travel over 250 and 300 miles, per charge.
Price Action: Rivian closed Wednesday’s session 1.73% lower at $21.03, according to Benzinga Pro data.
Read next: Tesla Rival Rivian Pauses Plans To Make EV Vans In Europe With Mercedes-Benz
Photo: Courtesy of Rivian
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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