3 Reasons to Buy Rivian Hand Over Fist
Rivian Automotive (NASDAQ: RIVN) has been working like a mad scientist behind the scenes to prepare for the launch of its highly anticipated R2 crossover electric vehicle (EV) in the first half of next year. Despite navigating uncertain waters thanks to changing trade policy, tariffs, and the end of the $7,500 federal EV tax credit, Rivian is fresh off a third quarter that topped estimates. Beyond third-quarter results, however, there are more reasons to be optimistic about the road ahead for Rivian.
One reason that Rivian's stock popped roughly 36% over the past month before giving back gains was its gross profit during the third quarter. Rivian's third quarter was better received by investors than rival Lucid's which has seen its stock decline about 40% over the past month. Actually, to be fair, while investors reacted strongly to Rivian's $24 million gross profit when Wall Street was expecting tens of millions in losses, Rivian has been making fairly consistent progress since 2023.
Data source: Rivian SEC filings. Image source: Author.
Source Fool.com
