TSLA - Rivian: Don't Bet On The Wrong EV Challenger
2024-07-05 10:27:58 ET
Summary
- Rivian investors enjoyed a remarkable surge spurred by the recent Volkswagen deal.
- However, the whole deal is predicated on achieving the required technological and financial milestones. It isn't "free money."
- Rivian is still a fundamentally weak company in an intensely competitive EV industry.
- The recent mean reversion from oversold levels hasn't altered RIVN's long-term downward bias.
- I argue why RIVN investors waiting to cut should capitalize on the recent spike to get out.
Rivian: Deliveries Performance Closely Watched
Rivian Automotive, Inc. ( RIVN ) investors have staged a remarkable revival since its bottom in April 2024. The recent Volkswagen-Rivian joint venture announcement spurred a further recovery in June, helping RIVN stock reach levels last seen in February 2024. RIVN maintained its production guidance and surpassed its Q2 delivery estimates, which has helped maintain the recent bullishness. Therefore, the momentum seems to have returned to RIVN at a pivotal moment as the EV maker attempts to reignite its growth prospects....
Rivian: Don't Bet On The Wrong EV Challenger