RIVN - Is Rivian the Best Electric Vehicle (EV) Stock for You?
2024-06-29 03:55:00 ET
One possible reason for the slowdown in electric vehicle (EV) sales growth in 2024 is a lineup of options that has been growing stale. Industry leader Tesla recently launched its unique Cybertruck, but it hasn't made any major upgrades or design changes to the top-selling Model Y or more affordable Model 3.
Rivian Automotive (NASDAQ: RIVN) may be taking a hint from that situation and is being more aggressive with offering customers new options. Even after announcing its plans for a 2026 next-generation R2 vehicle platform, Rivian revamped its lineup of R1 vehicles. Now the company has a large new capital injection.
With the stock still trading down by more than 30% year to date, now may well turn out to be an opportune time to buy shares.
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Is Rivian the Best Electric Vehicle (EV) Stock for You?