Down 90%, Is Rivian Stock a Can't-Miss Buy at These Prices?
Technology stocks have rallied hard in 2023. The Nasdaq-100 index is up an astonishing 46.6% this year, driven by huge gains from the likes of and Nvidia. Rivian Automotive (NASDAQ: RIVN) has not participated in this bull market rally. Its stock is actually down 6% year to date.
The electric vehicle (EV) stock just continues to fall after going through its initial public offering in 2021 and jumping to a market cap of $100 billion on its first trading day. Since then, the stock is off around 90% from all-time highs, sitting at a market cap of $16 billion. Investors are nervous about mounting losses and weakening consumer demand for EVs in the United States, which could hurt the start-up.
Is Rivian stock a can't-miss, buy-the-dip opportunity at these prices? Or is the stock set to continue lagging the market? Let's take a closer look at the numbers to find out.
Source Fool.com
Tesla Inc Stock
Currently there is a rather positive sentiment for Tesla Inc with 56 Buy predictions and 27 Sell predictions.
As a result the target price of 248 € shows a very positive potential of 51.48% compared to the current price of 163.72 € for Tesla Inc.
