Rivian Stock Has Upside and a Lot to Prove

By Travis Hoium – Aug 17, 2022 at 10:31AM

NASDAQ: RIVN

Rivian Automotive

Market Cap

$9B

Today's Change

(2.23%) $0.20

Current Price

$8.94

Price as of April 18, 2024, 11:34 a.m. ET

Rivian is ramping up production quickly and could have a lot of upside if it can reach scale.

Rivian (Nasdaq: RIVN) has slowly ramped up production since fall 2021, but more trucks and SUVs will be coming off the production line soon. Given the increase in customer backlog and increase in capacity, this change can't happen quickly enough, but if management is successful this could be a great EV stock to buy.

Stock prices used were the afternoon prices of August 15, 2022. The video was published on August 17, 2022.

Travis Hoium has the following options: long March 2023 $250 puts on Tesla. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy.

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