Is Now the Time to Go All-In on Rivian Stock?
On Nov. 16, 2021, just one week after its initial public offering, Rivian Automotive (NASDAQ: RIVN) soared to an intraday high of $179.47 per share. It's been all downhill from there, with the stock off a painful 90% from that high.
When a stock suffers a sharp and rapid decline of Rivian's magnitude, it's usually because it either never should have been so high in the first place or the company is undergoing severe challenges. In the case of Rivian, both of these factors are true -- to an extent.
Yet the company has quite a lot going for it, and the stock could even be worth a look now that it sports a more reasonable valuation. Here's why.
Source Fool.com
