RIVN - Rivian: Turning The Corner

2024-05-19 02:52:07 ET

Summary

• Rivian Automotive's stock has fallen by roughly 22% in the last year, but I maintain a bullish stance.
• In Q1 2024, Rivian produced 13,980 vehicles and delivered 13,588 units, in line with expectations.
• I see promising future prospects for Rivian due to their cost-cutting measures, partnerships with companies like Amazon and Google, and favorable government policies.

Investment Thesis

In the last year, Rivian Automotive's ( RIVN ) stock has fallen roughly 22% . While the market is bearish, I have maintained a bullish stance since last year. Despite the drop in their stock price, I believe the company executed well in the first quarter of 2024. In this first quarter, Rivian produced 13,980 vehicles and delivered 13,588 units from their plant in Normal, Illinois, with total production and delivery in line with their expectations. While these results are underwhelming, as I was hoping for them to beat expectations, I still have high hopes for their future.

My analysis goes beyond a mere review of Q1 2024; it presents a comprehensive assessment of Rivian's prospects. Despite the underwhelming delivery estimates for the year, I believe the company has a lot going for it. With the launch of the R2 model and a renewed focus on cost discipline, creating a strong foundation for long-term growth and profitability in the electric vehicle ( EV ) industry, I see a very promising future ahead....

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