RIVN
Rivian Automotive, Inc.·Consumer Cyclical
15.43
1.247%(+0.19)
Market ClosedLast Updated: — ET
52W L: $10.8552W H: $22.69
Rivian Automotive, Inc.·Consumer Cyclical
Rivian's internal technology stack passed a key milestone with Volkswagen, triggering a $1 billion investment. The inflow of funds will help the EV maker as it ramps up production of its more affordable R2 SUV.
Tesla is now being valued as an AI stock. EV competitor Rivian is not yet considered to be part of that group.
Rivian Automotive (NASDAQ:RIVN | RIVN Price Prediction) trades at $14.94 as of writing, sitting 20% below its 52-week high of $22.69 and down 24.2% year to date.
Rivian's stock has collapsed since its market debut. But its low valuation and insider buying suggest a turnaround is around the corner.
Rivian Automotive expects to begin deliveries of its new R2 this month. The upcoming earnings announcement could unveil several catalysts.
Rivian is, to some extent, following Tesla's playbook. The company's recent financial results were pretty strong, and it is tapping into potential growth opportunities.