Rivian Stock Dips Below $15: Should You Buy?

Excitement around electric vehicles (EVs) has waned, at least in the United States. has lost its growth profile and is struggling to ship more units to customers. Chinese brands are taking increasing share in markets outside the United States. One EV upstart stuck in the mud is Rivian Automotive (NASDAQ: RIVN). The maker of high-end trucks and SUVs is experiencing falling deliveries to customers and is struggling to generate positive cash flow.

The stock has fallen back below $15 as I write this, and is well off all-time highs from near its initial public offering. Does this make the stock a good buy-the-dip candidate today?

The narrative around Rivian Automotive is sound. It is building premium EVs in America, tackling the high-end truck and SUV market, which has strong profit characteristics. It's got new factories under construction and more affordable vehicles coming down the line. And don't forget its EV delivery van product, which has a huge contract from Amazon -- an investor in the company -- as well as other buyers.

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Source Fool.com