Is Rivian Stock a Buy?
Rivian (NASDAQ: RIVN) share prices fell after the electric vehicle (EV) maker reported first-quarter 2024 earnings. While sales were roughly in line with Wall Street expectations, the company lost more than analysts had projected it would. And yet, the big-picture story appears to remain intact.
That doesn't mean that investors should be lining up to buy the stock, however.
Rivian is an EV truck and SUV manufacturer with several high-end consumer products and a delivery truck used by Amazon. Rivian is in talks with others about the use of its delivery trucks as well. Rivian produced 13,980 vehicles in the first quarter of 2024, up nearly 50% from the prior-year period. The company still expects to manufacture around 57,000 vehicles in 2024, which is roughly flat with the total for 2023.
Source Fool.com
