Could Rivian Stock Help You Become a Millionaire?
The auto sector has long been one with very high barriers to entry. But the transition to electric from internal combustion engine has attracted lots of new players and capital to this sector. The entry of young companies with agile operations and a focus on innovation is surely good news for car buyers. For investors, this transformation brings more opportunities, as well as risks.
Rivian (NASDAQ: RIVN) has surely managed to attract tons of attention from investors. Let's discuss if the stock can generate multibagger returns in the long run.
Sensing market demand, several new companies are trying to build electric vehicles. However, not many companies had the kind of early success that Rivian has achieved. Making automobiles is a challenging task. Start-ups such as Canoo, Lordstown Motors, Fisker, and Arrival are yet to deliver their first vehicles.
Source Fool.com
