RIVN - Rivian Shines Again in Recent Registration Data. Is the Stock Still a Buy?
2024-07-21 05:28:00 ET
While many investors are currently pessimistic regarding the electric vehicle (EV) industry, as sales growth continues to creep along rather than explode higher, Rivian (NASDAQ: RIVN) continues to buck the trend with positive news. Not only did it exceed expectations with second-quarter deliveries, it also inked a massive potential $5 billion deal with Volkswagen AG , helping drive the stock up 93% over the past three months.
Better yet, the most recent registration data shows that Rivian is outperforming its rivals. Here are the details and why it matters.
Registration data in the U.S. serves as a proxy for sales, and investors can use this information to glean insights that aren't found in monthly or quarterly sales data. Many automakers don't release this information, or don't break it down to individual vehicles. The downside is that this more insightful information is slower to reach investors and is delayed by a few weeks -- the most recent data, for example, is from May. But the insights are invaluable.
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Rivian Shines Again in Recent Registration Data. Is the Stock Still a Buy?