Rivian Soars After Volkswagen Investment. Is It Too Late to Buy the Stock?
Share prices of Rivian (NASDAQ: RIVN) surged higher after the maker of electric vehicles (EV) received a sizeable investment from German automaker (OTC: VWAGY). Despite the recent price gains, the stock is still down nearly 43% in 2024.
Let's look at the importance of this investment, how it could help Rivian, and if it is too late to buy the stock.
Volkswagen announced it will invest up to $5 billion in Rivian over three years as well as form a 50/50 joint venture (JV) between the companies. Volkswagen will initially invest $1 billion in the company in the form of a convertible note, which will convert to Rivian shares once it receives regulatory approvals, but not before Dec. 1, 2024.
Source Fool.com
Volkswagen AG ST Stock
€112.30
0.990%
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 24.67% compared to the current price of 112.3 € for Volkswagen AG ST.
