Rivian And Lucid Have Served Disappointment To Investors Over Past Year — But Data Cues Show Greener Pastures Ahead
Portfolio Pulse from Shanthi Rexaline
Electric vehicle (EV) startups Rivian Automotive, Inc. (NASDAQ:RIVN) and Lucid Group, Inc. (NASDAQ:LCID) have struggled with production ramp-up and stock price performance over the past year. However, data suggests potential for improvement. A $100 investment in Rivian a year ago is currently worth $71.43, while the same investment in Lucid would be worth $38.97. Despite these losses, analysts are hopeful for a rebound, particularly as oversold levels provide a platform for potential growth. Rivian's stock rose 0.13% to $23.08 and Lucid's gained 1.28% to close at $5.53.
September 29, 2023 | 9:20 am
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Lucid's stock has struggled over the past year, but analysts see potential for a rebound. The stock gained 1.28% to close at $5.53.
Lucid's stock has struggled due to production ramp-up issues and economic uncertainty. However, the company's oversold levels and recent stock price increase suggest potential for improvement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Rivian's stock has struggled over the past year, but analysts see potential for a rebound. The stock rose 0.13% to $23.08.
Rivian's stock has struggled due to production ramp-up issues and economic uncertainty. However, the company's oversold levels and recent stock price increase suggest potential for improvement.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100