RIVN - Is It Too Late to Buy Rivian Stock?
2024-05-26 05:30:00 ET
Since going public in 2021, Rivian (NASDAQ: RIVN) has worked hard to become a household name. It's not quite there, but it is gaining recognition. The company recently received a J.D. Power award for most satisfying ownership experience. And Consumer Reports just named it one of the most beloved car brands, with 86% of owners saying they'd buy a Rivian again.
The increased hype is driving impressive sales growth. Revenue is up 868% since the company's initial public offering. Is it too late to invest in this emerging growth stock? You might be surprised at the answer.
Across dozens of metrics, Rivian stock was a better buy a few years ago than it is today. Sales are growing at a good clip, manufacturing facilities expanded, margins are improving, and new models are being announced. Company executives forecast that Rivian could achieve a positive gross profit sometime this year, something it has never done in the past.
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Is It Too Late to Buy Rivian Stock?