Name of opportunity: 👀
Rivian Automotive, Inc
Intense competition: 🤼
Rivian is currently recommended as a ‘Buy’ by analysts, and the company has announced it may report a gross profit in 2024. Could this company be a good one for investors who are interested in electric vehicles to consider? Tesla has recently disappointed, with its stock falling in value 10.50% over the last month. Once considered a very good investment by analysts, it’s now recommended as a ‘Hold’. Profit margins have fallen and there are more competitors in the EV field every day, with major competitors including Chinese brands NIO and BVD. In the West, Volkswagen and General Motors are also laying claim to the EV crown.
How hot is this investment opportunity? 🔥🔥
Rivian is currently only just averaging a ‘Buy’, and is in fact quite close to ‘Hold’.
However, stock in Rivian is predicted by analysts to rise significantly in value over the next 12 months - from $10.65 to $17.75, which is an increase of 67.41%. So if you were to invest $1000, you might profit $674.06.
We previously wrote about General Motors’ new EV plan. General Motors Co. is currently rated a ‘Buy’ and is predicted to increase in value by 9.20% over the next 12 months.
Analysts predict that Tesla’s stock might also increase in value by 14.45% over the next year - but the company is beset by negative press and quality control issues.
Hop in: 🚙
Rivian Automotive, Inc was founded in 2009. It specialises in producing SUVs, and also manufactures electric delivery vans which were previously exclusive to Rivian’s investor Amazon, but which are now available on the market for other companies.
In 2021, Rivian was the first automaker to make a fully electric pickup truck available to customers. Two years later, the company acquired digital app maker Iternio, and integrated their product A Better Route Planner into the in-car navigation system.
This year, the company announced it would launch the R2 and R3 SUVs in 2026, which will be smaller, sportier and more affordable than their current offerings.
Interestingly, Rivian was actually sued in 2020 by Tesla under allegations that the company had stolen proprietary information and poached employees - this rivalry goes back!
Which neme?: 🔍
‘Meme Stocks’ and ‘Electric Vehicles’
