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R2 Launch

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"Rivian R2 Launch Sparks Bullish Momentum for EV Stock"
business2 years ago

"Rivian R2 Launch Sparks Bullish Momentum for EV Stock"

Rivian's stock is on the rise ahead of the launch of its new R2 electric SUV, with a buy rating from Jefferies Financial Group suggesting over 45% upside potential. The R2, set to be revealed today, is expected to be a more affordable option starting at $47,000 with up to 330 miles of range, potentially falling below $40,000 with the EV tax credit. Despite concerns about cash reserves and recent financial losses, Rivian remains confident in its future prospects, aiming for improved margins and profitability as it expands its brand and production capacity.