- Hedge funds collectively bought nearly 37 million shares of RIVN last quarter, making it the single-most bought EV stock by hedge funds in the third quarter of 2022 (by share volume).
- Today, the company is worth about $30 billion. And that’s a valuation that I think is an absolute steal for this stock.
- Rivian will dramatically and impressively ramp production against the improving macroeconomic backdrop, on the heels of a huge stock price decline.
When the “smart money” talks, I listen. And that smart money right now is betting big on a single EV stock that could dethrone Tesla.
Specifically, hedge funds collectively bought nearly 37 million shares of this EV stock last quarter. That made it the single-most bought EV stock by hedge funds in the third quarter of 2022 (by share volume).
Some of the buyers include Wall Street heavyweights like George Soros, David Einhorn, and Ken Griffin. They’re three of the most successful hedge fund managers in the history of Wall Street.
In other words, the smart money has spoken. This is their pick as the top EV stock to buy today.
Needless to say, this is one that you need to learn about right now. Fortunately, we’re here to tell you all about it.
We’re talking about Rivian (RIVN).
An EV Stock Titan: The Quick Rundown on Rivian
To cut to the chase, let me be clear on where I stand on Rivian stock.
I stand with Soros, Einhorn, and Griffin. I’m a Rivian stock bull, mostly because I think this company can dominate an unfilled niche in the EV industry that, at scale, will be very large.
But before we dive into the bull thesis on Rivian stock, let’s first revisit the company’s fundamentals.
Rivian is an EV startup that’s designing, manufacturing, and selling high-end electric SUVs and pick-up trucks. The company is widely considered one of the most technologically advanced and promising EV makers in the world today.
Rivian started delivering units of its first model – the R1T – in 2021.
It’s an electric pick-up truck that seats five, has a 54×50-inch bed and gets roughly 300 miles per charge. It can tow up to 11,000 pounds and has a 0-to-60 mph time as quick as three seconds. The interior is comprised of vegan leather, with a panoramic all-glass roof and a custom enhanced audio system.
It is a very high-quality electric pick-up truck. It currently starts at $73,000. Rivian delivered almost 1,000 of these trucks in 2021 and is on track to deliver more than 20,000 R1Ts this year.
Rivian’s second model is an electric SUV dubbed the R1S.
It’s a large-format SUV that can comfortably seat up to seven passengers and their gear. It, too, gets roughly 300 miles of driving range on a single charge and can accelerate from 0-to-60 mph as quick as three seconds. It has all-wheel-drive capability and is outfitted with the same interior fittings as the R1T: vegan leather interior, all-glass panoramic roof, and a custom enhanced sound system.
R1S deliveries just began earlier this year, with the company shipping models to employees first and now to the general public. Its starting price is $78,000.
Rivian went public in a highly anticipated and briefly super-successful IPO last year. The stock has since struggled after a brief hot run. Today, the company is worth about $30 billion. And that’s a valuation that I think is an absolute steal for this $5 EV stock.
Buy This $5 Stock BEFORE Apple Project Goes Live
After nearly a decade of research and development…
Apple is preparing to unveil a brand-new device unlike anything it's ever attempted before… code name: Project Titan.
It could be 10X bigger than the iPad, the MacBook and the iPhone combined…
And my research shows that one tiny $5 tech company is perfectly positioned to help Apple make it all possible.
The numbers I've crunched indicate that this tiny, little-known stock could soar 40X once Apple's new device goes live.
And that's not hyperbole… because after over 7 months of research…
I'm now more confident now than ever that this could be Apple's biggest project to date.
It stands at the center of an emerging industry Bloomberg forecasts will grow as much as 19,254% in the coming years…
And Morgan Stanley analyst Katy Huberty says Project Titan is… “the clearest path to doubling Apple's revenue and market cap.”
It's no wonder whales like Warren Buffet and Nancy Pelosi's husband have recently put millions into Apple – despite everything going on in the economy today.
But there's a better way to tap into this opportunity… one with much more potential upside.