Is Rivian Stock a Buy After the $5 Billion Volkswagen Investment?
The electric vehicle (EV) industry has not been particularly kind to investors, especially those who bet on Rivian Automotive (NASDAQ: RIVN). Its shares have lost around 90% of their value since going public three years ago amid rising competition and missed production targets.
But some recent good news have given the shares a lift. Let's dig deeper into Rivian's just-announced partnership with and what it could mean for the struggling automaker.
On June 25, Rivian and Volkswagen announced plans to create a joint venture to develop EV software and technologies for their respective automotive businesses.
Source Fool.com
Volkswagen AG ST Stock
€112.90
-0.090%
Currently there is a rather positive sentiment for Volkswagen AG ST with 18 Buy predictions and 3 Sell predictions.
With a target price of 130 € there is a slightly positive potential of 15.15% for Volkswagen AG ST compared to the current price of 112.9 €.
