3 Big Reasons to Believe in Rivian Stock Long-Term
It's been mostly downhill for young EV companies in recent years after initial hype drove large IPOs and soaring stock prices. But here are three reasons Rivian could be a long-term winner.
Overview
About five years ago, there was a mini gold rush in the electric vehicle (EV) industry. It was due to growing infrastructure support and a flood of public and private funding from investors hoping to get their hands on what might be the next Tesla.
This gold rush ended poorly for many involved: from the more well-known Fisker Automotive, which was supposed to rival Tesla, to the lesser-known companies such as Canoo and Lordstown Motors. Even more capable companies, such as Lucid Group (NASDAQ: LCID), will almost certainly face more funding questions and capital raises within 12 to 18 months.
Details
Rivian Automotive (NASDAQ: RIVN), however, appears to be gaining real traction; here are three reasons to believe in it long-term.
Source
Originally published at www.fool.com.