Rivian IPO: RIVN went public at $78 00 on Nov. 10, 2021

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24 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last year. There are currently 2 sell ratings, 8 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should “moderate buy” RIVN shares. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels. The R1T is a highly configurable pickup while the R1S is an off-road capable SUV. The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were made later that same year.

The R1S also boasts the ability to rock crawl up a 100% incline or 45-degree slope. Production of Rivian’s R2 model will be diverted to the automaker’s existing facility in Illinois. Rivian CEO RJ Scaringe surprised his audience with the unexpected reveal of the smaller R3 SUV.

Rivian’s “one more thing” was a nod to Steve Jobs’ habit of teasing one final product reveal at events. Electric Vehicle (EV) stocks have been in a strong freefall in the past few years. Some, like Lordstown Motors and Arrival, have collapsed while others like Fisker and Faraday Future are on their deat…

As of December 2021, Rivian reported that it has over 71,000 pre-orders for its R1 models.[40] They produced a total of 24,337 cars in 2022. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year. Since then, RIVN stock has decreased by 54.0% and is now trading at $10.80.

Rivian will break ground on a new Georgia manufacturing facility in early 2024. Shares of EV-maker Tesla, the most valuable automobile company in the world, fell nearly 3% during the same period, between the debut of Rivian’s shares and close of trading on Friday. While both companies operate within the market for EVs, Rivian’s niche is all-terrain vehicles whereas Tesla’s specialty is sedans and SUVs. Ford, which has been focusing on expanding sales of EVs and has a nearly 12% stake in Rivian, saw its shares fall about 1% over the roughly three days of trading. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor.

  1. The company produces and has begun delivery of its first-generation consumer vehicle, which is a two-row, five-passenger pickup truck named the R1T.
  2. There are currently 2 sell ratings, 8 hold ratings and 14 buy ratings for the stock.
  3. CNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join ‘Power Lunch’ to discuss their three new vehicles, slowdown of the EV market at large, and more.
  4. The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes.
  5. According to 23 analysts, the average rating for RIVN stock is “Buy.” The 12-month stock price forecast is $19.18, which is an increase of 77.59% from the latest price.

The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components with repairability and reusability key to the end result. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent. The money-losing electric vehicle company, which makes vans, trucks and S.U.V.s, is trying to preserve cash as it works to produce and sell more affordable vehicles. Rivian Automotive (RIVN) shares are rising in premarket trading Friday after the electric vehicle (EV) startup said that it was halting construction of a $5 billion factory in Georgia.

Those quarterly losses were more than four times larger than the same quarter a year earlier. The company indicated that its operating expenses have increased over the last eight quarters as the development of its R1T, R1S, and EDV vehicle programs continues to advance. Rivian Automotive (RIVN) raised $9.1 billion in an initial public offering on Wednesday, November 10th 2021.

CNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join ‘Power Lunch’ to discuss their three new vehicles, slowdown of the EV market at large, and more. The startup is betting that customers will line up to buy a more affordable version of its EV vehicles. CNBC’s Phil LeBeau and Rivian CEO RJ Scaringe join ‘Power Lunch’ to discuss their three new vehicles, the slowdown of the EV market at large, and more.

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The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. Rivian’s total book value, the difference between its assets and liabilities, was $5.5 billion as of June 30, 2021. Total cash and cash equivalents on the company’s balance sheet at the end of the June were $3.7 billion.

By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. Rivian Automotive, Inc. is an british pound dec ’20 futures price OEM EV manufacturer focused on pickup trucks and SUVs. The company was founded in 2009 and is based in San Jose, California.

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The charging stations can add up to 120 miles of range to a battery pack in just 20 minutes. The company is planning to launch at least 2500 stations nationwide. Rivian (RIVN) owners now have access to over 15K Tesla (TSLA) superchargers https://www.forex-world.net/software-development/how-to-become-a-project-manager-a-comprehensive/ and will start receiving NACS DC adapters in April. According to 23 analysts, the average rating for RIVN stock is “Buy.” The 12-month stock price forecast is $19.18, which is an increase of 77.59% from the latest price.

Should I Buy Rivian Automotive Stock? RIVN Pros and Cons Explained

The stock was up more than 21% from its initial opening price to the close of trading on Nov. 12, 2021, three trading days after the IPO. The broader U.S. equity market, as measured by the S&P 500, was basically flat over the same period. 24 equities research analysts have issued twelve-month price https://www.topforexnews.org/news/what-is-the-definition-of-a-white-label-in-the/ objectives for Rivian Automotive’s shares. On average, they predict the company’s stock price to reach $20.78 in the next twelve months. This suggests a possible upside of 92.4% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts.

Price Target and Rating

Piper Sandler analyst Alexander Potter acknowledges that it’s “risky” for investors to bet on shares of Rivian Automotive Inc., but he now thinks it’s a move investors should consider. Piper Sandler analyst Alexander Potter upgraded Rivian shares to Buy from Hold. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow.

As of December 2021, Rivian is a public company trading under the symbol RIVN on the Nasdaq stock exchange. Tom Narayan, RBC Capital global auto analyst, joins ‘Power Lunch’ to discuss Rivian as the company unveiled three new vehicles, if the new products are good for investors, and more. While the EV startup can serve more customers with a $45,000 sport-utility vehicle, the market is getting crowded. Jenny Horne discusses this as the Rivian CEO notes that there are over 68K R2 reservations in 24 hours.

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