Does Rivian's Recent Surge Make It a Buy Now?
If you were lucky, or perhaps savvy, enough to invest in Rivian (NASDAQ: RIVN) three months ago, you'd be sitting on a healthy 93% gain. The company recently inked a potentially massive investment by , and topped forecasts for deliveries. Let's dive into these developments and see if the recent surge marks a solid time to buy into the electric vehicle (EV) maker.
Rivian just landed a deal that Fisker had previously dreamed of before the latter entered bankruptcy. Rivian and Volkswagen entered into a joint venture to create next-generation software-defined vehicle platforms to be used in both companies' EVs.
Volkswagen is putting its money where its mouth is and will invest an initial $1 billion in Rivian, with up to an additional $4 billion planned through 2026. The investment will help support Rivian's production of its R2 electric SUV and a new mid-size electric vehicle to help "secure our capital needs for substantial growth," according to Rivian.
Source Fool.com
Volkswagen AG ST Stock
We see a rather positive sentiment for Volkswagen AG ST with 6 Buy predictions and 2 Sell predictions.
As a result the target price of 140 € shows a positive potential of 25.9% compared to the current price of 111.2 € for Volkswagen AG ST.
