From Nasdaq: 2024-04-25 15:19:51

Rivian Automotive Inc. (RIVN) produces electric SUVs, trucks, and vans for commercial and retail markets. Founded in 2009, it’s based in Irvine, California, with a market cap of $8.64 billion.

Despite strong Q4 results, Rivian stock has dropped 63% in 2024. Its 2024 guidance indicates capital expenditure of $1.75 billion and projected EBITDA losses of $2.7 billion.

Amazon’s push for EV charging infrastructure could boost Rivian’s deliveries. Rivian saw 59% sales growth in Q1, with the R1S as the 4th best-selling EV. Analysts maintain a “Moderate Buy” rating on RIVN with a price target of $18.09, suggesting a 112% upside potential.



Read more at Nasdaq: Is Rivian Stock a Buy Near All-Time Lows?