Should You Buy Rivian While It's Below $18?
Rivian Automotive (NASDAQ: RIVN) is attempting to catch some of the lightning that propelled to global success in the electric vehicle (EV) market. That's the opportunity that investors saw when Rivian went public, pushing the shares dramatically higher. Now, with the stock down 90% from its all-time highs, the investment story looks a little different.
Is Rivian a buy now, while the shares are hovering a bit below their 52-week high of roughly $18?
To be fair to Rivian, the decline in the company's stock largely reflects investor sentiment. Fickle investors were willing to pay just about any price for an electric vehicle stock when Rivian went public. Then it became clear that not every electric vehicle company would be the next Tesla, and investors rushed to sell their shares. As is often the case, the selling was indiscriminate.
Source Fool.com
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