Rivian Just Forecast This Important Metric Will Turn Positive. Is Now the Time to Buy the Stock?
Rivian's (NASDAQ: RIVN) second quarter could go down as the most important in its history after the electric vehicle (EV) maker introduced its next-generation vehicle platform and struck a partnership with Volkswagen Group (OTC: VWAGY). However, those important events happened toward the end of the quarter and did not have a major impact on its Q2 results.
Let's take a look at Rivian's most recent quarterly results and why the company appears to be ready to turn the corner.
Rivian's Q2 revenue edged up 3% year over year to $1.16 billion as the company delivered 13,790 vehicles in the quarter, a 9% increase from a year ago. It produced 9,612 vehicles in the quarter. Production fell both year over year and sequentially due to a planned shutdown at its manufacturing plant for a retooling upgrade.
Source Fool.com
Volkswagen AG VZO Stock
With 6 Buy predictions and 5 Sell predictions the community is currently undecided on Volkswagen AG VZO.
As a result the target price of 110 € shows a slightly positive potential of 15.14% compared to the current price of 95.54 € for Volkswagen AG VZO.
