What's happening with Rivian Automotive stock?
One day after electric truck company Rivian Automotive ( RIVN -2.26% ) voluntarily blew up its stock price by announcing it would raise the price of its R1T pickup truck by 17%, and its R1S SUV by 20%, Rivian stock is tumbling once again on Thursday. As of 10:25 a.m. ET, Rivian is down another 5% -- a total of an 18% drop since this debacle began.
Is Rivian stock a great value pick in May 2022?
Although we had been negative on Rivian stock when the company went public in November 2021 due to its lofty valuation, which at one point stood at over $130 per share (translating into a $100 billion-plus market cap), we thought the stock was a great value pick in early May 2022, when it traded at a little over $20 per share.
Is electric-vehicle (EV) stock a buy after Rivian's expansion project fails?
The electric-vehicle (EV) stock was already under a bit of pressure this week after Rivian's expansion project ran into hurdles, and it appears some of the things CEO RJ Scaringe just said at the Wolfe Research virtual global auto, auto-tech, and mobility conference failed to lift investor sentiment.
Did Rivian try to mitigate the PR damage?
As of 10:25 a.m. ET, Rivian is down another 5% -- a total of an 18% drop since this debacle began. Image source: Getty Images. Rivian tried to mitigate the PR damage this morning.
How high is rivian stock going?
According to the algorithm-based Rivian share price prediction from Wallet Investor, as of 16 May, the outlook for the Rivian share value was primarily bearish. The market data provider expected the stock price to plunge to $0.000001 by November 2022 and remain there though 2023, 2024, 2025, 2026 to May 2027.
Is rivian stock available to the public?
Rivian is a privately held company. You cannot buy Rivian shares on the open market. It may be possible to purchase pre-IPO shares or to invest at the IPO, but you'll have to meet requirements and there may be restrictions. These shares may not be available at all.
What will rivian stock open at?
Performance OutlookPrevious Close30.76Open30.54Bid30.85 x 1300Ask30.93 x 1200Day's Range29.40 - 30.963 more rows
Is rivian stock worth buying?
It's a double whammy for Rivian: There's short supply, and whatever raw materials and EV components it can secure are costly and adding to its losses and cash burn. For perspective, Rivian's net loss in the first quarter almost quadrupled year over year to $1.6 billion, on revenue of only $95 million.
How do I buy Rivian stock?
How to buy shares in RivianCompare share trading platforms. Use our comparison table to help you find a platform that fits you.Open your brokerage account. Complete an application with your details.Confirm your payment details. Fund your account.Research the stock. ... Purchase now or later. ... Check in on your investment.
When can I invest in Rivian?
If you're thinking of investing in the electric vehicle (EV) sector, then popular electric pickup and SUV maker Rivian Automotive Inc. has filed to go public, with its debut taking place on November 9, 2021. Keep reading to find out more about the Rivian and how to buy stocks in companies when they go public.
Will Amazon sell its Rivian stock?
Indeed, in its statement to Bloomberg Amazon said that it was “committed” to work with Rivian to put those electric delivery vehicles on the road by 2030. Abdul Latif Jameel, a Saudi Arabia-based group and an investor in Rivian, said it has no plans to sell shares.
What day will Rivian go public?
Rivian sold shares to the public in its initial public offering at a price of $78 a share on Nov. 9. An IPO lockup, which bars some early investors from selling stock for a period, ends May 9.
Is Rivian a good long term investment?
There is no doubt that Rivian is a risky investment. RIVN is a start-up electric vehicle maker. The company is currently in losses (not unexpected for a start-up with high growth expectations), and it is expected to only turn EBITDA-positive in fiscal 2026 (as per consensus estimates obtained from S&P Capital IQ).
What is the target price for Rivian?
Ives's initial price target was $130 a share. But early in 2022, Rivian told analysts and investors it would likely ship 25,000 units for the year. Wall Street had been projecting about 40,000 units for 2022.
How much of Rivian does Amazon own?
roughly 18%Amazon owns roughly 18% of the equity in Rivian as part of a deal to procure 100,000 electric delivery vans. The e-commerce giant is presently carrying a value of $15.6 billion on its books, according to company filings.
How many pre orders does Rivian?
Rivian says it has 71,000 pre-orders. If you multiply that by the average increase of $12,000, that amounts to over $850 million.
Key Points
The reason why Rivian fell short of its production target in 2021 still holds.
NASDAQ: RIVN
You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More
What happened
Rivian Automotive ( RIVN -1.15% ) stock dropped Friday morning, shedding almost 4.6% in the first hour of trading before gaining some ground.
So what
One of the biggest challenges that Scaringe highlighted at the conference on Thursday was the ongoing semiconductor-chip shortage, according to Reuters. Supply constraint was the primary reason why Rivian fell short of its production target of 1,200 vehicles in 2021, and its shares took a massive hit thereafter.
NASDAQ: RIVN
Investors are now hoping to see the chip-supply crunch -- which started in 2020 and has hit the automotive industry the hardest -- ease in 2022. Unfortunately, Scaringe believes the chip shortage could last through the year, even as the company tries to navigate other headwinds, such as labor constraints.
Now what
The chip shortage is a real concern, and the obstacles to expansion at Rivian's Normal factory has only added to the several questions investors are already seeking answers to from the company when it reports its quarterly numbers on March 10. Scaringe, though, also just said that Rivian is targeting a 10% share in the EV market by 2030.
Premium Investing Services
Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool's premium services.
