Rivian: A $1.5 Billion Share Sale Just Drew the Line at $15.50Rivian Automotive, Inc. Class ABATS:RIVNBazemtraderRespect what happened here: Rivian raised $1.5 billion in one move to fund its Georgia plant - and paid for it with an 18% drop in two days. The mechanics matter. 75 million new shares were priced at $15.50. That is not just dilution - it is the price where institutions agreed to buy size. Offering prices become reference levels. KEY LEVELS - RECLAIM 20.00 - Monday's close before the announcement. Above it, the dilution is digested and forgotten. - FIRST TEST 18.00 - the shelf price broke down from. First resistance on any bounce. - MAKE-OR-BREAK 15.50 - the offering price. The buyers of 75 million shares defend this line. Wednesday's low: 15.43. It has already been probed. TRADE PLAN - Bullish: daily close above 18.00 -> long, stop below 15.50, targets 20.00 / 22.69 (52-week high). - Bounce: a touch of 15.50 that closes back above it -> long, stop below 15.00, target 18.00. - Bearish: daily close below 15.50 -> short, stop above 18.00, targets 13.50 / 11.57 (52-week low). - Between 15.50 and 18.00: no trade. Let the two sides finish arguing. INVALIDATION The bullish structure dies on a daily close below 15.50. If the buyers who just paid that price will not defend it, nobody will. No shame in stepping aside. THE LESSON When a company sells shares, the offering price is information. It tells you where informed money valued the stock with full knowledge of the books. Mark it. The market almost always tests it. Dilution is a price, not a verdict. I will update this idea as the levels get tested.