The Case for Buying Rivian Stock
This may be an unpopular opinion at the moment, but I think Rivian Automotive (NASDAQ: RIVN) could be an attractive buy-and-hold stock for the long term. The company has been absolutely crushed on the market, down 76% from its all-time high set just a few months ago, but there are some positives for Rivian's business.
Despite production challenges, Rivian does expect to ramp up to 25,000 vehicles produced in 2022. It also recently pushed through a big price increase. Finally, it will be a leader in electric trucks, SUVs, and commercial vehicles for at least a few years. And I think the market has underestimated this EV stock's disruptive nature, which could make it a great stock long term.
Image source: Rivian.
Source Fool.com
