What's Going On With Rivian Automotive Stock?
Portfolio Pulse from Erica Kollmann
Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower, pulling back after gaining nearly 15% over the last 30 days. The stock's movement is being watched closely amidst the ongoing United Auto Workers (UAW) strike against the Big Three automakers, Ford Motor Company (NYSE:F), General Motors Company (NYSE:GM) and Stellantis (NYSE:STLA). Some believe that non-traditional automakers like Rivian could benefit from the strike. UBS analyst Joseph Spak recently initiated coverage on Rivian with a Neutral rating and a price target of $26.
September 19, 2023 | 2:56 pm
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NEUTRAL IMPACT
Rivian's stock is trading lower after recent gains. The ongoing UAW strike against traditional automakers could potentially benefit Rivian. UBS analyst has initiated coverage with a Neutral rating and a price target of $26.
Rivian's stock is currently trading lower, which could be a temporary pullback after its recent gains. The ongoing UAW strike against traditional automakers could potentially benefit Rivian as it might face less competition and could gain market share. However, the impact of this is uncertain and thus the neutral score. The neutral rating from UBS analyst also indicates uncertainty in the stock's direction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Ford's operations could be impacted by the ongoing UAW strike, potentially leading to a lack of production, increased costs and delays in transitioning to EV manufacturing.
The ongoing UAW strike against Ford could potentially lead to a lack of production, increased costs and delays in transitioning to EV manufacturing. This could negatively impact Ford's operations and financial performance, leading to a potential decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50
NEGATIVE IMPACT
General Motors' operations could be impacted by the ongoing UAW strike, potentially leading to a lack of production, increased costs and delays in transitioning to EV manufacturing.
The ongoing UAW strike against General Motors could potentially lead to a lack of production, increased costs and delays in transitioning to EV manufacturing. This could negatively impact GM's operations and financial performance, leading to a potential decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50
NEGATIVE IMPACT
Stellantis' operations could be impacted by the ongoing UAW strike, potentially leading to a lack of production, increased costs and delays in transitioning to EV manufacturing.
The ongoing UAW strike against Stellantis could potentially lead to a lack of production, increased costs and delays in transitioning to EV manufacturing. This could negatively impact Stellantis' operations and financial performance, leading to a potential decrease in its stock price.
CONFIDENCE 80
IMPORTANCE 65
RELEVANCE 50