3 Reasons to Buy Rivian Now
Investors might have noticed Rivian's (NASDAQ: RIVN) 93% surge higher over the past three months and think they've already missed the boat. But if Rivian executes its vision, it has plenty of room to run. For perspective, the stock remains down 25% year to date even with the recent surge. Let's look at three developments that should keep investors optimistic about owning or buying Rivian shares right now.
Rivian recently inked a deal with global automaker to create a joint venture that would share electric vehicle (EV) architecture and software. Volkswagen will invest up to $5 billion in Rivian. The deal breaks down as follows.
Volkswagen will invest $1 billion through a note that will eventually convert to stock and will also make a $1 billion payment when the joint venture is created, likely the fourth quarter of 2024. Volkswagen will then invest another $1 billion in 2025 and 2026, depending on Rivian achieving milestones, and will provide a $1 billion loan in 2026.
Source Fool.com
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