Looking in the rearview mirror, investors will find that Rivian (RIVN +3.13%) has performed exceptionally well over the past year. Shares of the electric truck maker's stock have soared more than 33%, while the S&P 500 has nudged about 3.8% higher.
But has the road that investors have traveled over the past few years been as smooth? Have those who parked Rivian stock in their portfolios in April 2022 seen their investments grow, or are they still waiting for the electric vehicle (EV) stock to make a U-turn and drive higher?
NASDAQ: RIVN
Key Data Points
After giving it an initial jolt, investors have largely hit the brakes on Rivian stock
Roaring out of the gate, Rivian raced more than 45% higher from the time of its initial public offering (IPO) on Nov. 10, 2021 through the ensuing week. At that time, enthusiasm for EV stocks was running high. Investors had eagerly been awaiting Rivian's IPO, recognizing the company -- and its alluring electric pickup truck -- as a viable EV investment alternative to Tesla.
Over the past three years, though, Rivian has logged some successes including growing vehicle deliveries, but investors have resisted rewarding Rivian for its accomplishments. Those who purchased $1,000 in stock three years ago are now looking at only $341 left of their initial investments as of this writing.
Is now the time to back up the truck on Rivian stock?
With Rivian stock plummeting more than 16% since the start of the year, shares are a lot more attractively priced than they were at the end of 2024. But that doesn't mean that today's a great time to click the buy button.
The development of a new manufacturing facility in Georgia is critical to the company's growth, supporting expansion of its product line with the R2 SUV and R3 crossover vehicle. Rivian expects construction of the plant to start in 2026, with vehicle production starting in 2028. Development of the multi-billion-dollar facility is not simple, and delays or unexpected costs are risks that potential investors should be mindful of.
