Down 57%, Is It Time to Buy Rivian Stock?
If you'd purchased $1,000 worth of Rivian (NASDAQ: RIVN) stock when it hit the market in 2021, you would have just $99 today -- a painful loss of 90%. What's worse, the company shows no signs of changing its downward trajectory, with a decline of 57% so far this year. But as Rivian gets cheaper, it will draw the attention of value-hungry investors eager to bet on a rebound.
Is it finally time to pull the trigger? Let's dig deeper to find out.
When Rivian stock became available in late 2021, the electric vehicle (EV) market was flush with optimism. Governments around the world outlined ambitious targets for the industry and supported it via subsidies, while leaders like posted much better profit margins than legacy, gas-powered alternatives. Rivian quickly established a niche by focusing on trucks and SUVs, while its rivals mainly built cars.
Source Fool.com
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