RIVN - Can Rivian Automotive Double in 5 Years? Here's What It Would Take.
2024-05-22 09:30:00 ET
Rivian Automotive (NASDAQ: RIVN) was one of the market's hottest stocks when it went public in November of 2021. Its stock more than doubled from its initial public offering (IPO) of $78 to its all-time high of $172.01 just a week later. At the time, investors were impressed by its production rates and its firm support from Amazon and Ford Motor .
But as of this writing, Rivian's stock trades at about $10. It lost its luster as it missed its own production targets and racked up steep losses. Ford subsequently liquidated its stake in Rivian, and rising interest rates compressed its valuations. That sounds grim, but could the stock at least stabilize and double over the next five years?
Rivian's R1S SUV. Image source: Rivian.
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Can Rivian Automotive Double in 5 Years? Here's What It Would Take.