Posted 4/4/2024, 8:45:00 AM
Rivian Stock Plunges Over 90% From 2021 Highs But Holds Promise for Future EV Growth
- Rivian went public in 2021 at a market cap of $153 billion, but now trades around $11 billion after struggling to ramp up production as planned
- Rivian aims to expand capacity and release new models over the next 3 years to boost growth
- Analysts estimate Rivian's revenue could grow at a 40% CAGR from 2023-2035, potentially reaching $350 billion in annual revenue
- If Rivian trades at 2-4x sales in 2035, its market cap could reach $150-300 billion
- Rivian faces risks in scaling production and profits, but has potential for huge growth in the booming EV market