[00:00:00] Douglas McIntyre: Rivian in the Consumer Report Reports annual car study.
I wrote a lot about Rivian Automotive (RIVN -2.13%) earlier this year, arguing that shares are criminally undervalued versus their long-term potential. After a long stretch of share price weakness, the market has finally started to shift its sentiment.
At the risk of repeating this time after time, the incoming Trump administration is heavily considering ending the federal tax credit for electric vehicle (EV) purchases, which can reach up to $7,500. This is obviously bad news for pure-play EV companies such as Rivian (RIVN -2.13%), but only recently have we gotten a little bit of data regarding how much the federal tax credit means to consumers themselves.
Rivian Automotive (RIVN -3.09%) shares have been on a tear. The electric vehicle (EV) maker's stock price has rocketed about 36.5% higher in the last month.
The electric vehicle (EV) market hit some speed bumps in the last few years. While sales are still growing, the recent sales trajectory hasn't matched what many investors had hoped for.
Rivian Automotive (RIVN -2.70%), a producer of electric pickups, SUVs, and delivery vans, went public just over three years ago. It soared from its IPO price of $78 to $106.75 on its first trade before setting a record high of $172.01 just a week later.
Rivian stock price has risen in the past five consecutive days and is hovering at its highest level since August 8 of this year. It has soared by 52% from its lowest level in November, pushing its valuation to over $14.7 billion.
Shares of Rivian Automotive (RIVN 12.92%) were trading sharply higher on Monday, after a Wall Street analyst initiated coverage of the stock with a strong recommendation.
Benchmark analyst Mickey Legg launched coverage of with an $18 price target. What he's seeing.
Benchmark starts coverage with a buy rating and price target offering a 38% upside.
Buying the right stock at the right time can transform your life. For example, if you had invested $10,000 in electric vehicle (EV) industry leader Tesla in 2014, you would have a whopping $245,300 today.
Whether you're a diehard electric vehicle fan or merely curious about the EV market, you have likely thought about which companies -- that aren't named Tesla -- might be a good idea to hitch your horse to right now.