Prediction: This Is What Rivian Stock Will Do Next
Making cars is tough, and it's even tougher if you start a new vehicle brand from scratch. The huge upfront investments required for production create a barrier to entry, so very few new automotive brands achieve sustainable success. Recent examples include Tesla and , but there are dozens of failures for every successful car business.
Rivian Automotive (NASDAQ: RIVN) is trying to become the next sustainable automotive brand. By focusing on electric vehicles (EVs), premium vehicles, and outdoor enthusiasts, the brand has found a niche and is now delivering over 10,000 vehicles to customers every quarter. The stock is up close to double from April when it hit $8 a share, but it's still off 90% from highs set at its initial public offering (IPO).
This business is at a crossroads. After seeing its recent earnings report, here's my prediction for what's next for Rivian stock.
Source Fool.com
BYD Co. Ltd Aktie
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