Name of opportunity: 👀
Rivian Automotive, Inc
Pop!: 🎉
Rivian has popped today, with the stock increasing in value by 1.68%. The stock has struggled recently, and is down 50% over the year to date. This stock has a volatile history, having been worth 90% more than it is today back in 2021, when it went public on the stock market. The EV market has struggled worldwide. However, some analysts are highlighting this electric vehicle company as an investment opportunity - and it might be this analyst interest that is attracting investors today.
How hot is this investment opportunity? 🔥🔥🔥
If you check out Rivian’s page in our investment app, you will see that some analysts predict the stock might rise from $10.28 to $15.48 in the next 12 months. If you invested $1000, you might profit $532.50.
One reason why the stock is rising recently - and why it is predicted by some analysts to continue to rise - is that the company will release its quarterly earnings on 7th November. Investors and analysts are eager to see what the results will show.
Back in August, when it released its Q2 earnings, the company previously predicted that by the fourth quarter of 2024, it would reach profitability, which would be a significant milestone for Rivian. Rivian has also recently managed to cut its cost per unit to manufacture each electric vehicle.
While EV stocks have recently been struggling due to lower sales, it has been predicted that in the long term, sales will pick up - a report from the IEA (International Energy Agency) says that 60% of new vehicle sales will be electric. Many countries are also setting targets for zero-emission vehicles they aim to produce in the years to come. This might mean that Rivian, or an EV competitor, might be a suitable long term investment. You can find a selection of electric vehicles stocks in our ‘Electric Vehicles’ neme.
Electric: 🔋
Rivian Automotive, Inc. designs, develops and manufactures electric vehicles and accessories. It sells its vehicles directly to customers in the consumer and commercial markets. The Company’s R1 platform offers the first-generation consumer vehicles: the R1T, a two-row five-passenger pickup truck, and the R1S, a three-row seven-passenger sport utility vehicle (SUV). Rivian’s shareholders include Amazon, which uses Rivian’s vans as delivery vehicles.
Which neme?: 🔍
‘Electric Vehicles’, ‘Meme Stocks’
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