VLKAF - Rivian: Here's My Game Plan After The VW Deal And Investor Day
2024-06-28 17:44:50 ET
Summary
- Rivian Automotive, Inc. stock surged after Volkswagen's investment, settling around $14, above moving averages.
- The Volkswagen deal validates Rivian, reduces risks, and aids in production expansion and distribution.
- Investor day highlighted cost reduction focus, production goals, and potential for selling puts as an investment strategy.
I wrote my first article on Rivian Automotive, Inc. ( RIVN ) back on March 28, 2024. In that article, I suggested the stock was worth buying at around $10, after it had plunged from about $179 per share. A lot has happened since then, and particularly so with the announcement that Volkswagen ( VWAGY ) ("VW") will invest in Rivian and also enter into a joint venture deal, the total of which could be valued at around $5 billion....
Rivian: Here's My Game Plan After The VW Deal And Investor Day