Friday, September 13, 2024

Rivian: EV Dream Stock or Cash-Burning Machine?

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Rivian: EV Dream Stock or Cash-Burning Machine?

Anthony Summers, Director of Trading, The Oxford Club

Anthony Summers

Rivian Automotive (Nasdaq: RIVN) has been making waves in the electric vehicle market ever since its splashy IPO in 2021.

This disruptive startup manufactures electric trucks, SUVs, and delivery vans with innovative designs and an eco-friendly focus.

The stock's journey has been as electrifying as its vehicles. After debuting at $78 per share in November 2021, it skyrocketed to nearly $180 within days.

But the honeymoon was short-lived. As a broader tech sell-off took hold and investors scrutinized Rivian's fundamentals, the share price plummeted.

Chart: Rivian Automotive (Nasdaq: RIVN)
View larger image
 

Over the past year, the stock has been bouncing between $10 and $25, a far cry from its lofty IPO levels.

But might now be the time for investors to bet big on the stock?

Let's run the numbers through The Value Meter to find out.

Rivian's enterprise value-to-net asset value (EV/NAV) ratio is a very low 1.59. That's significantly below the average of 10.95 for companies with positive net assets, which seemingly suggests an extreme bargain.

Not so fast, though... the company has a serious problem that all investors need to take into account.

Here's What I Mean...

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