Is Rivian stock a buy? For more detailed analysis visit our website: https://www.overlookedalpha.com
#stocks #investing #rivianstock #evstocks #financialtimes #stockstobuy
#stocks #investing #rivianstock #evstocks #financialtimes #stockstobuy
Category
🗞
NewsTranscript
00:00 Should you buy Rivian stock, ticker symbol RIVN. Electric car manufacturer Rivian hit
00:05 a market cap of $100 billion in 2021. That was peak insanity in the stock market and
00:10 Rivian shares have fallen 80% since. Today the company has a market cap of $26.1 billion
00:16 with $13.3 billion in cash remaining. Revenue over the last 12 months is just over $1 billion
00:21 and net income was -$7.5 billion as the company builds out its production facilities and starts
00:27 making cars. Although Rivian shares are down 80% the business
00:31 has performed on target. The number of pre-orders for Rivian's trucks has more than doubled
00:36 in the first three quarters hitting 114,000. That's on top of 100,000 pre-order from
00:43 Amazon for Rivian's electric delivery vans. To meet those orders Rivian has produced 15,000
00:48 vehicles so far and says it can deliver 25,000 by the end of 2022. That's considerably
00:54 better than some of Rivian's rivals. Lucid should deliver 67,000 this year and Fisker's