RIVN - Down 57% Is It Time to Buy Rivian Stock?
2024-05-13 14:29:00 ET
If you'd purchased $1,000 worth of Rivian (NASDAQ: RIVN) stock when it hit the market in 2021, you would have just $99 today -- a painful loss of 90%. What's worse, the company shows no signs of changing its downward trajectory, with a decline of 57% so far this year. But as Rivian gets cheaper, it will draw the attention of value-hungry investors eager to bet on a rebound.
Is it finally time to pull the trigger? Let's dig deeper to find out.
When Rivian stock became available in late 2021, the electric vehicle (EV) market was flush with optimism . Governments around the world outlined ambitious targets for the industry and supported it via subsidies, while leaders like Tesla posted much better profit margins than legacy, gas-powered alternatives. Rivian quickly established a niche by focusing on trucks and SUVs, while its rivals mainly built cars.
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Down 57%, Is It Time to Buy Rivian Stock?