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Mohit Oberoi

Rivian Stock Forecast: After Doubling Since April, Can RIVN Continue to Go Up in 2024?

Rivian RIVN Volkswagen RJ Scaringe Tesla Inc.

It’s been a roller-coaster ride for investors in electric vehicle (EV) stocks in 2024. The year started on a somber note, as startup EV names like Rivian (RIVN) and Lucid Motors (LCID) continued their dismal run from 2023, and hit fresh record lows. Even Tesla (TSLA) was in the red for the year until just a few days ago.

TSLA has now rebounded, and far from being the worst-performing S&P 500 Index ($SPX) stock, it is now in the green and looking strong. Rivian, meanwhile, has now more than doubled from its 2024 lows. What’s the forecast for RIVN stock, and can the startup EV company continue to go up in 2024?

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