“`html
Rivian Automotive (NASDAQ: RIVN) shares have surged by over 40% in recent weeks despite starting 2024 above $20 and dropping below $10 just last month. Currently, Rivian’s market capitalization stands at approximately $14 billion, down from around $100 billion at its IPO in 2021. In contrast, market leader Tesla is valued at about $1.3 trillion.
Despite a decline in revenue, which went from over $5 billion annually, Rivian plans to launch three new mass-market models priced below $50,000 by 2026. Its stock trades at 3.1 times sales, significantly lower than Tesla’s 14 times sales and Lucid Group’s 10 times sales. Rivian will release its next quarterly report on February 18, where it aims to achieve positive gross margins for the first time after years of losses on each vehicle sold.
“`
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
