3 Reasons Rivian Stock Is a Buy Now

Just about every investor would be thrilled to discover the next (NASDAQ: TSLA), and the truth is they may not find a stock that rockets quite like the well-known electric vehicle maker. However, investors can still benefit from an excellent young competitor to ride the wave as mass adoption of electric vehicles (EVs) takes place. Here are three reasons why Rivian Automotive (NASDAQ: RIVN) might be the best option right now.

Perhaps the first box investors need to check off when considering investing in young EV makers is production. Many young EV companies can steer clear of scrutiny on debt, cash on hand, and capital expenditures, but rarely will investors accept disappointing production acceleration.

Rivian quickly found that disappointing investors with slowing production went over poorly when it hit a speed bump toward the end of 2022. However, management adjusted its assembly line to incorporate its in-house motor and drastically reduced the production bottleneck. The result has been excellent over the past three quarters with production and deliveries sharply increasing, and the gap in between those two variables narrowing.

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Source Fool.com