Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 1.7% to $14.16 during Tuesday’s session, pulling back following Monday’s strength. Analyst Mickey Legg of Benchmark on Monday initiated coverage with a Buy rating and an $18 price target.

What To Know: Legg expressed optimism about Rivian's potential to capture significant market share in the growing EV sector over the next decade.

According to Barron's, Legg highlighted expected improvements in domestic EV production starting in 2025, driven by falling vehicle prices and expanded charging infrastructure.

Rivian currently offers the high-end R1T electric truck and R1S electric SUV, both starting at about $70,000. The company plans to broaden its appeal with the more affordable R2 SUV, expected to launch in 2026 at around $45,000, directly competing with Tesla's Model Y.

Rivian's roadmap also includes the R3 crossover, positioned as an even more economical option, though specific pricing remains uncertain.

Despite not yet turning a profit, Rivian has produced 13,157 vehicles in Q3 and forecasts annual deliveries of over 50,000. With $6.7 billion in cash and a partnership with Volkswagen, Rivian investors are watching to see if the company is poised for strategic growth.

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How To Buy RIVN Stock

By now you're likely curious about how to participate in the market for Rivian Automotive – be it to purchase shares, or even attempt to bet against the company.

In the the case of Rivian Automotive, which is trading at $13.95 as of publishing time, $100 would buy you 7.17 shares of stock.

According to data from Benzinga Pro, RIVN has a 52-week high of $24.62 and a 52-week low of $8.26.