Where to By Rivian Stock Dip? Down 4% Today

• Rivian (RIVN) stock trades around $43.56.
• The stock declined by 4.47%.
• Here’s a guide on how you can purchase RIVN.

Rivian stock has seen declines since mid-November. Moreover, things appeared to worsen after legislatures in the United States refrained from voting for a law to allow Rivian and different EV automakers permission to sell cars directly to Georgia consumers Remember, Rivian plans to build an extra-large chip factory in Georgia.

The American Automaker has received consistent negative news. Despite surging material costs, it also faces massive competition from established manufacturers like Tesla and General Motors.

Elon Musk commented on EV producers that met challenges this year, including Lucid and Rivian, stating that production is challenging, whereas prototypes are easy.

We created this brief guide to stock investors and traders that want to buy Rivian stock following the recent dip.

About RIVN Stock

RIVN is a stock by Rivian Automotive, trading under NASDAQ: RIVIN ticker on NASDAQ. Rivian Automotive is an American-based electric car company, operating since 2009. It introduced its electric pickup on September 14, joining the electric car space with a boom to compete with giants like Lucid and Tesla.

The company went ahead to be the 3rd-largest vehicle dealer after Tesla and Toyota since the November 9 monster IPO.

RIVN Price Forecast

While most traders might believe the current price decline by Rivian stock has no end, analysts trust the stock is heading towards an oversold area and may rebound soon.

For now, all eyes watch the drop towards $40. Experts believe breaking this level will see the stock on further downswings to $35. However, a bounce-back at $40 might see the stock closing 2022 Q1 beyond $50.

Where to Purchase RVIN Dip?

• Saxo Markets

Saxo Markets offers more than 40,000 instruments in over ten asset classes. The best thing is it allows individuals to invest, hedge, or trade from one account. Moreover, the platform has lucrative gas fees, translating to increased earnings.

• Trading 212

Trading 212 dominated the financial space with easy-to-use, ‘smart’ and free applications, allowing interested individuals to trade Forex, stocks, equities, and commodities. You can invest in RVIN with this site without hurdles.

Final Thought

The current dip by Rivian stock can be lucrative for dip-buying investors. However, beware that there aren’t steady signs showing the prevailing bear market has ended or will end soon. For now, Rivian Company deals with multiple challenges ranging from increased materials cost, supply chain issues, and customers canceling orders.

Editorial credit: rafapress / shutterstock.com