Is Rivian Stock a Buy?
Rivian Automotive (NASDAQ: RIVN) has been one of the few start-up electric vehicle (EV) companies to be delivering on its growth expectations this year. The company has produced almost 40,000 of its three EV models in the first nine months of 2023. That keeps it on track to more than double its production for the full year compared to 2022.
But signs of declining demand have begun to show for some EV offerings. That has led to a more-than 33% decline in Rivian shares in just the last month. Yet Rivian has some unique aspects as an early-stage EV company, and investors might be considering whether that share-price decline makes now a good time to buy the stock.
Rivian's business might be on the right trajectory, but it still has a monumental amount of work to do to ensure a successful and profitable company. With other automakers delaying planned investments and pushing back prior production growth goals for EVs, there are signs that the path to success may be getting tougher.
Source Fool.com
