Will Volkswagen News Drive Rivian Stock to $20? 1 Wall Street Analyst Thinks So. [Yahoo! Finance]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Yahoo! Finance
venture (JV) that will marry Rivian technology to Volkswagen cash -- as much as $5 billion that Rivian can use to keep operating as it completes development of its widely anticipated R2 electric SUV and R3 electric car Wall Street is applauding the JV. And on Wednesday, one analyst -- Cantor Fitzgerald -- raised its price target on Rivian stock to $20 a share. That implies a 36% price jump over the next 12 months. Rivian + Volkswagen = what? But is the news as good as all that? It might be, yes. Rivian's contribution to the joint venture will take the form of intellectual property, its electric vehicle (EV) software, and "electrical architecture expertise." Volkswagen's contribution will be cold, hard cash: A $1 billion unsecured loan, convertible into stock. Two more $1 billion installments, invested in Rivian in 2025 and 2026. And $2 billion in cash and loans invested in the JV. Assuming any work done at the JV will advance Rivian's own EV projects, that's $5 billion
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RIVN
News
- Oliver Blume, VW and Porsche boss steering an EV strategy shift [FT.com - Mergermarket]FT.com - Mergermarket
- Oliver Blume, VW and Porsche boss steering an EV strategy shift [Financial Times (FT.com) (UK)]Financial Times
- Rivian Automotive, Inc. Sued for Securities Law Violations – Investors Should Contact Levi & Korsinsky Before July 30, 2024 to Discuss Your Rights – RIVNAccesswire
- Shareholders that lost money on Rivian Automotive, Inc. (RIVN) Urged to Join Class Action - Contact Levi & Korsinsky to Learn MoreAccesswire
- Rivian Announces Plans to Launch Five More Models After $5 Billion Volkswagen Investment [Yahoo! Finance]Yahoo! Finance
RIVN
Earnings
- 5/7/24 - Beat
RIVN
Sec Filings
- 6/27/24 - Form 4
- 6/27/24 - Form 8-K
- 6/25/24 - Form 8-K
- RIVN's page on the SEC website