RIVN - 1 No-Brainer EV Stock to Buy Right Now for Less Than $200
2024-07-01 05:10:00 ET
Owning Rivian (NASDAQ: RIVN) stock is not for the faint of heart, even after a recent $5 billion cash infusion from Volkswagen (OTC: VWAGY) . But if you are a more aggressive investor, that cash lifeline could be exactly what Rivian needs to create a profitable business.
The future for this stock looks far brighter now than it did before the Volkswagen agreement -- and it still trades for well below $200 a share, even after a big stock rally. Here's why this electric vehicle (EV) stock might be a great buy right now if you have $200 available to invest.
It is important to give Rivian the credit it deserves, despite the fact that the business continues to bleed red ink. Losses in startups aren't shocking at all, given the magnitude of trying to build an electric carmaker from the ground up. That said, Rivian makes highly desirable EV trucks. They have won multiple industry awards, which suggests that Rivian's products are good.
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1 No-Brainer EV Stock to Buy Right Now for Less Than $200