This year, the valuations of many electric car stocks slumped. One that struggled mightily at times was Rivian (RIVN 1.20%).
In 2021, the market was going crazy for electric vehicle (EV) stocks. Several EV makers went public that year with valuations that were through the roof.
RIVN has received much needed cash lines from VWAGY at $5.8B and the US Department of Energy at $6.6B, given the ongoing cash burn at an annualized rate of ~$3.4B. Despite the management reiterating FQ4'24 positive gross margins, it is only attributed to $300M of regulatory credit, with FY2025 quarterly gross profit likely to be lumpy. Given the idling production capacity and elevated operating expenses, it is unsurprising that Rivian has yet to achieve manufacturing and operating scale thus far.
[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.