RIVN - Is Rivian Stock a Buy After the $5 Billion Volkswagen Investment?
2024-07-01 08:45:00 ET
The electric vehicle (EV) industry has not been particularly kind to investors, especially those who bet on Rivian Automotive (NASDAQ: RIVN) . Its shares have lost around 90% of their value since going public three years ago amid rising competition and missed production targets.
But some recent good news have given the shares a lift. Let's dig deeper into Rivian's just-announced partnership with Volkswagen and what it could mean for the struggling automaker.
On June 25, Rivian and Volkswagen announced plans to create a joint venture to develop EV software and technologies for their respective automotive businesses.
For further details see:
Is Rivian Stock a Buy After the $5 Billion Volkswagen Investment?