3 Things You Need to Know if You Buy Rivian Today
While the S&P 500 has soared more than 18% year to date, shares of Rivian (NASDAQ: RIVN) have raced the other way. Since the start of the year, the electric truck manufacturer's stock has plunged almost 10%.
But it's not only bears that are paying attention to Rivian stock. There are plenty of electric vehicle (EV) investors who are convinced that Rivian's stock shouldn't be forsaken and are willing to park shares of Rivian in their portfolios. Before doing so, however, these bulls should idle their engines and recognize some important points before hitching a ride with Rivian.
At this time last year, Rivian bulls held fast to the idea that the company's supply agreement with Amazon for 100,000 electric delivery vehicles (EDV) was an auspicious sign that its vehicles were in high demand for use in logistics applications. Earlier in November, Rivian announced that it was offering commercial vans to companies in the U.S. Beginning with small-scale fleet deployments in 2024, Rivian plans on ramping up deliveries in 2025.
Source Fool.com
