Prediction: Rivian Will Soar Over the Next 3 Years. Here's 1 Reason Why.
It's been a rough year for electric vehicle (EV) stocks. Nearly every EV maker has seen its valuation plunge. Year to date, Tesla stock has fallen by nearly 40%. Lucid Group has seen its shares dip by around 30%. Rivian Automotive (NASDAQ: RIVN), meanwhile, has also seen its shares plunge by around 30% since early January.Across the board, most growth stocks have seen their stock prices fall this year. But many EV stocks are seeing their valuations plunge even as their growth rates start to pick up. If you're looking for cheap growth stocks, Rivian could be the perfect fit for you. There's one reason in particular to get excited now.When Tesla introduced its Model 3 and Model Y vehicles, its revenue grew by leaps and bounds over the subsequent years. That's because these were the company's first "mass-market" models. That is, these were the first vehicles that the masses could afford, with starting prices under $50,000. Since that point, it's been every EV maker's goal to move into the mass-market category.Continue reading
It's been a rough year for electric vehicle (EV) stocks. Nearly every EV maker has seen its valuation plunge. Year to date, Tesla stock has fallen by nearly 40%. Lucid Group has seen its shares dip by around 30%. Rivian Automotive (NASDAQ: RIVN), meanwhile, has also seen its shares plunge by around 30% since early January.
Across the board, most growth stocks have seen their stock prices fall this year. But many EV stocks are seeing their valuations plunge even as their growth rates start to pick up. If you're looking for cheap growth stocks, Rivian could be the perfect fit for you. There's one reason in particular to get excited now.
When Tesla introduced its Model 3 and Model Y vehicles, its revenue grew by leaps and bounds over the subsequent years. That's because these were the company's first "mass-market" models. That is, these were the first vehicles that the masses could afford, with starting prices under $50,000. Since that point, it's been every EV maker's goal to move into the mass-market category.
