Rivian vs. the S&P 500: Which Investment Wins Through 2030?
The electric vehicle maker looks undervalued, but it has a lot to prove.
Overview
Rivian (NASDAQ: RIVN), a maker of high-end electric vehicles, went public at $78 per share on Nov. 10, 2021. It closed at a record high of $172.01 just six days later, but it only trades at about $15 today. During the same period, the S&P 500 (SNPINDEX: ^GSPC) rallied nearly 120%.
Rivian initially impressed investors because it was already producing thousands of vehicles, and it was backed by Ford Motor Company (NYSE: F) and Amazon (NASDAQ: AMZN). But in 2022, it produced only 24,337 vehicles -- compared to its original target of 50,000 -- as it struggled with supply chain issues. By early 2023, Ford had sold nearly all of its Rivian shares.
Image source: Rivian.
Details
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Originally published at www.fool.com.