Better EV Stock: Rivian Automotive vs. Lucid Group
Rivian Automotive (NASDAQ: RIVN) and Lucid Group (NASDAQ: LCID) attracted a stampede of bulls in 2021 amid the buying frenzy in electric vehicle (EV) stocks. However, shares of both companies fizzled out over the past year as rising interest rates and other macro headwinds drove investors away from speculative growth stocks.
As a result, Rivian and Lucid both now trade about 80% below their all-time highs. Should you buy either of these out-of-favor EV stocks?
Rivian produces three vehicles: the R1T pickup truck, the R1S SUV, and an EDV (electric delivery van) for Amazon (NASDAQ: AMZN). Its R1 vehicles start at less than $70,000 and can travel over 300 miles on a single charge, while its EDVs have a range of about 150 miles.
Source Fool.com
