Where Will Rivian Automotive Stock Be in 1 Year?

Rivian (NASDAQ: RIVN) was one of the hottest IPOs of 2021. The electric vehicle maker went public at $78 on Nov. 10 and closed at its record high of $172.01 six days later. It initially impressed the bulls because it had already started mass-producing its first vehicles, and it was backed by Amazon (NASDAQ: AMZN) and Ford (NYSE: F). The buying frenzy in hypergrowth and meme stocks in late 2021 further inflated its valuations and amplified its gains.At its peak, Rivian's market capitalization reached $153.3 billion -- or 92 times the revenue it ultimately generated in 2022. However, today, Rivian's stock trades at approximately $17 with a market cap of $21.5 billion -- which is just three times the revenue it's expected to generate in 2026. That makes it dirt cheap compared to Tesla (NASDAQ: TSLA), which trades at 14 times next year's sales. So could this unloved EV stock bounce back and head higher over the next 12 months?Image source: Rivian.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool