Prediction: Buying Rivian Stock Today Could Set You Up for Life
There may never be another Tesla (NASDAQ: TSLA). Shares of the company have increased in value by 27,000% since 2010. A small initial investment could have become hundreds of thousands of dollars over that time. Tesla's high-profile leader, Elon Musk, has pushed the company into many lucrative verticals, everything from electric vehicles and solar power to distributed energy and robotaxis.While no electric car competitor may reach Tesla's $1 trillion market cap anytime soon, it would still be very profitable to find the next Tesla, at least in terms of a small EV business ready to scale aggressively. No Tesla competitor looks to have more growth upside over the next few years than Rivian (NASDAQ: RIVN). In fact, I think buying Rivian shares now could really pay off. Just be aware of the risks before jumping in.To buy a stock for life you need to be confident that the underlying business can continue growing for decades to come. When it comes to electric vehicle demand, the macro landscape is very promising. Right now, less than 10% of U.S. vehicle sales are electric. By 2030, however, market penetration could approach 20%, according to some estimates, a more than doubling over just five years.Continue reading
There may never be another Tesla (NASDAQ: TSLA). Shares of the company have increased in value by 27,000% since 2010. A small initial investment could have become hundreds of thousands of dollars over that time. Tesla's high-profile leader, Elon Musk, has pushed the company into many lucrative verticals, everything from electric vehicles and solar power to distributed energy and robotaxis.
While no electric car competitor may reach Tesla's $1 trillion market cap anytime soon, it would still be very profitable to find the next Tesla, at least in terms of a small EV business ready to scale aggressively. No Tesla competitor looks to have more growth upside over the next few years than Rivian (NASDAQ: RIVN). In fact, I think buying Rivian shares now could really pay off. Just be aware of the risks before jumping in.
To buy a stock for life you need to be confident that the underlying business can continue growing for decades to come. When it comes to electric vehicle demand, the macro landscape is very promising. Right now, less than 10% of U.S. vehicle sales are electric. By 2030, however, market penetration could approach 20%, according to some estimates, a more than doubling over just five years.
