Where Will Rivian Stock Be in 3 Years?
When it launched its initial public offering (IPO) in 2021, Rivian Automotive (NASDAQ: RIVN) was one of the most valuable automakers in the world. With a stock price of $78, its market capitalization of over $100 billion dwarfed established brands like Ford Motor and General Motors. But now that shares have fallen back down to Earth ($20 at the time of writing), fundamentals-focused investors can start shopping for a good entry point.
While Rivian faces some near-term macroeconomic challenges in the competitive electric vehicle (EV) market, its well-received trucks and SUVs could eventually generate shareholder value. Let's dig deeper to find out what the next three years could hold for the company.
Like many automakers, Rivian reports quarterly vehicle production and delivery data well ahead of the corresponding earnings report. In Q4, it produced 17,541 vehicles and delivered 13,972. According to CNBC, the market took this news badly because deliveries declined 10% sequentially compared to Q3. But this reaction seems a little unfair given quarter-over-quarter results can be muddied by seasonality and other uncontrolled variables.
Source Fool.com
