Rivian Automotive (NASDAQ: RIVN) trades around $12 per share, giving the electric vehicle manufacturer a market capitalization of about $18 billion. That's a fraction of Tesla's valuation, but Rivian still has a long way to go before achieving consistent profitability. Still, with production accelerating and its lower-priced R2 SUV now reaching customers, Rivian could look a lot different five years from now. My prediction? A $5,000 investment today could be worth approximately $10,000 by 2031. Rivian delivered 19,248 vehicles in the third quarter, up about 45% year over year. Management also reaffirmed its full-year delivery guidance of 65,000 to 70,000 vehicles. Worth noting: much of Rivian's future growth depends on the R2.
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