Rivian Just Had a Great Quarter. It's Still Not a Buy.
Of the electric vehicle start-ups not named , perhaps none is more promising than Rivian (NASDAQ: RIVN).
The EV company best known for its pickup trucks is well capitalized, thanks to a well-timed IPO in November 2021. Even after several quarters of huge losses, Rivian still has $10.2 billion in cash and equivalents on its balance sheet, and the company enjoys the backing of Amazon, which is a major investor in Rivian and has tapped it to produce 100,000 electric delivery vans.
Finally, Rivian has also executed well in the six full quarters it's been a publicly traded company and has mostly succeeded in ramping up production according to its targets.
Source Fool.com
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