It’s no secret, electric cars are becoming increasingly more popular, and for good reason. The world needs to reduce its dependence on fossil fuels for energy creation and consumption.
A traditional internal combustion engine, or gasoline-powered car, relies heavily on both oil and gasoline to power the vehicle. Not only are gas prices soaring right now, there are various governing bodies that are pushing for all vehicles of the future to be fully electric.
Tesla Motors gets a lot of attention in the electric vehicle community, but have you heard of Rivian Automotive? Learn more about how you can invest in Rivian Stock below!
Rivian Automotive is an American automaker that produces electric vehicles. Initially founded in 2009, Rivian Automotive is headquartered in Irvine, CA, and has over 11,000 employees. Robert Scaringe has been the CEO of Rivian Automotive since 2009, and the company is currently working on producing two main vehicles.
The R1T is an incredible pickup truck that is capable of conquering rough terrain. Despite being fully electric, the towing capacity can reach 11,000 pounds, and the acceleration can go from 0-60 mph in just 3 seconds. Additionally, this all-wheel drive vehicle can take on rough terrains head first.
The R1S is more of an SUV vehicle, but still has that outdoor rugged feel to it. The R1S can go from 0-60 MPH in 3 seconds and can tow up to 7,700 pounds. With a spacious cabin, a panoramic roof, and built-in LTE or Wi-FI, this is a great vehicle for families!
Rivian Stock Performance
Rivian stock went public in November of 2021. Since initially going public, the stock reached a high of $179.47 and a low of $33.46. The stock has seen some positive momentum recently, and on 3/29/2022, the stock rose 17.18%+.
Bullish on Electric
If you are bullish on electric vehicles and believe Rivian has a long runway of growth ahead, you may want to invest in Rivian stock. The company is producing a beautiful vehicle, and by many accounts, is still in the infancy stage.
If you’re interested in investing in Rivian stock, follow these steps.
Select a Brokerage
A brokerage is simply a platform where you can place your own buy and sell order for securities. We’ve compiled a list of our top brokerage firms and what you should look for when selecting a brokerage.
Once Your Account Is Set Up and Funded, You Can Begin Buying or Selling Stocks
Rivian stock trades on the NASDAQ exchange, and trades roughly 18.9 million shares daily! The ticker symbol for Rivian stock is RIVN.
Do Your Due Diligence
Once you enter the ticker symbol, you’ll likely see a stock chart. Before actually buying Rivian stock, you should do research as to where you expect the price of the stock to rise to.
This analysis can be done through fundamental or technical analysis. Buying any stock without completing a thorough analysis is a recipe for failure. Make sure you do your homework and make educated investments.
Time to Invest!
If you complete your analysis and conclude right now is the right time to buy RIVN stock, purchase the shares and execute a buy order. Considering the liquidity of this stock, your order shouldn’t have any problems being fulfilled!
Is Rivian Stock a Good Buy?
Understanding if Rivian stock, or any stock for that matter, is a good buy is entirely contingent on your risk tolerance and goals. Some may consider Rivian to be a good buy, whereas others believe Rivian to be too risky for their portfolio.
There is no universal answer here. If you want to make sure you’re making the right investments, consider working with a financial advisor. Financial advisors will help you establish a budget, set financial goals, and ensure your investments are aligned with your risk tolerance and goals.