Should You Buy Rivian While It's Below $19?
Rivian (NASDAQ: RIVN) made waves when it went public in 2021. The stock captured investors' attention as support for electric vehicles (EVs) gained significant momentum, and people became optimistic about their growth potential. Fast forward to today, and Rivian's stock is down 92% from its all-time high price in 2021.
It's been a tough backdrop for EV stocks lately, with tailwinds from federal support waning. That said, Rivian boasts a growing lineup of all-electric vehicles, and it is expanding while working to achieve greater cost efficiencies. With the stock priced below $19 per share, is it a buy? Let's dive into the business and find out.
Rivian takes a vertically integrated approach to its business, focusing on in-house manufacturing, which includes its proprietary technology platform and software stack. Many of Rivian's components are developed in-house in its Normal, Illinois, facility. This includes electric motors, gearboxes, battery packs, and vehicle electronics, among others.
Source Fool.com
