From Nasdaq:

Rivian Automotive stock saw a 27% gain in 2023 but has dropped by over 21% YTD in 2024. The fall can be attributed to missed delivery targets and pressure on growth stocks. Wall Street analysts project a reasonable level of growth in the future. Rivian’s strengths include a strong product lineup and a healthy balance sheet.

It is crucial to consider potential hiccups in the EV market as Rivian’s outlook might be hazy in the short term. The current price-to-earnings multiple of Rivian stock is 3.25x, which suggests a potential upside for patient investors. Amidst the industry turmoil, Rivian stands out as a company that has the potential to weather the storm and emerge as a strong player in the EV market.



Read more: Rivian Stock Prediction 2024: Here’s the Good, the Bad and Ugly About RIVN