From Nasdaq: 2024-11-15 11:22:24

Rivian Automotive shares drop as Trump administration plans to end EV tax credit program, causing concerns for U.S. EV market

Reuters report on Trump’s transition team ending EV tax credit program impacts Rivian’s shares. Program provides up to $7,500 credit for EV purchases, crucial for automakers like Rivian and Lucid. Tesla supports ending credits, but legacy automakers could struggle.

Rivian insulated by Volkswagen deal but broader EV market worried

Rivian’s deal with Volkswagen protects from U.S. market shocks, but broader EV sector concerned. Investors feel impact as Rivian shares decrease. Missed opportunity for lucrative investments? “Double Down” stock recommendations issued by analysts for potential growth in companies like Amazon, Apple, and Netflix.

Read more at Nasdaq: Rivian Stock Is Down Again on Tax Credit Fears