3 Reasons to Sell Rivian Automotive
Soaring 50% from its Nov. 10 IPO price of $78 per share, Rivian Automotive (NASDAQ: RIVN) has hit the ground running. But while the hyped-up electric vehicle (EV) automaker has richly rewarded its early backers, new investors could be left holding the bag because of its excessive valuation and lack of competitive advantages. Let's explore the reasons why Rivian looks too expensive for what it has to offer.
Founded in 2009, Rivian is a U.S-based automaker focused on building electric SUVs and pickup trucks. It sets itself apart by specializing in the utility-vehicle niche. The company relies on a modular chassis design called the "skateboard," which houses the battery and other components in a single unit that can be adapted to its entire lineup and sold to other automakers.
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Source Fool.com