Did Rivian Stock Finally Bottom?
The boom and bust cycle in electric vehicles (EVs) may be coming full circle. Stocks like Rivian Automotive (NASDAQ: RIVN) plummeted over the last few years as the bubble popped in the sector. Many companies have gone bankrupt, unable to make their business models viable.
Rivian remains unprofitable today, but it has large backers and a plan to greatly expand its manufacturing footprint through the rest of this decade. At around $15 a share today, Rivian stock has bounced back off its lows, but has traded in a similar range since the end of 2022.
With an inflection coming in its manufacturing plans, does that mean Rivian stock has finally bottomed and is set to make a comeback?
Source Fool.com
