Shares of EV maker Rivian (NASDAQ: RIVN) have been on a bit of a rollercoaster ride in 2024. After starting the year priced north of $23 per share, they dropped to less than $9 per share by mid-April. By mid-July, they got back up above $18 before falling under $10 in November. Now, shares are on the rise again.
As of the December 26 close, Rivian shares have returned 34% in the past month. However, they are still down a substantial 41% year-to-date, currently trading at just over $14. I’ll detail Rivian’s latest quarterly results and analyze its plan for success to understand the merits of the stock as a long-term investment.
