2023-03-21 10:36:00 ET
It would be easy to conclude electric vehicle manufacturer Rivian Automotive (NASDAQ: RIVN) will never be able to turn an actual profit. It's not just losing money: Last year's loss of more than $6.8 billion is a whopping four times greater than its 2022 top line of less than $1.7 billion. In 2022 the company lost on the order of $300,000 for every car it made. Fiscal viability seems far out of reach.
Adding insult to injury, rival Tesla (NASDAQ: TSLA) is net-profitable , while Nio (NYSE: NIO) is at least selling its EVs for more than its direct costs to manufacture them.
As the old cliché goes, though, past performance doesn't indicate future results. There's hope for Rivian on the (distant) horizon. You just have to read a bit of proverbial fine print to see it.
For further details see:
Rivian Could Be on the Brink of a Huge Rally: Why It's a Buy Now