This EV Company Has a $10 Billion Secret Weapon
Like many high-growth stocks, Rivian Automotive has plummeted at the start of 2024. The electric vehicle (EV) maker's share price is down more than 30% to around its lowest level since November.
It's still early in Rivian's production ramp-up, and the company is still burning through cash. But there is also a good reason for investors looking to speculate on the eventual winners in the EV sector to take advantage of the recent stock swoon.
Rivian took an unusual approach among EV start-up companies. Rather than directly take on the industry behemoth in its initial stage of production and sales, Rivian offers a differentiated slate of products. While consumers have taken a liking to its pickup truck and its SUV, Rivian also locked in a large order from early investor Amazon for commercial electric delivery vans.
Source Fool.com
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