Is This EV Stock The Next Tesla?
When Rivian (NASDAQ: RIVN) went public in Nov. 2021, some bullish investors claimed the electric vehicle (EV) maker could become the next (NASDAQ: TSLA). But as of this writing, Rivian's stock trades about 80% below its IPO price. Let's see why Rivian disappointed the market -- and if it still has a shot to become the next Tesla.
Image source: Rivian.
Rivian initially produced three EVs: the R1T pickup, R1S SUV, and custom electric delivery vans for Amazon and other companies. This March, it launched its cheapest vehicle, the R2 SUV, to expand its addressable market and keep pace with its competitors. However, Rivian's stock plunged because its production slowed down in 2024 and 2025.
Source Fool.com
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