Rivian Stock Is Now Down 45% From its Highs. Is the EV Upstart a Buy?
Rivian (NASDAQ: RIVN) burst out of the gates following its much-anticipated initial public offering (IPO) on Nov. 10. In a matter of days, the electric vehicle maker's stock price soared as much as 130% from its IPO price of $78.
Yet since that time, Rivian's shares have fallen back down to Earth. After the EV start-up alerted shareholders to some short-term production challenges during its third-quarter earnings report earlier this week, its stock plunged.
With its shares now trading at a significantly cheaper price, is it finally the time to buy Rivian stock? Two analysts believe it is. Here's why.
Source Fool.com
