Electric vehicle (EV) companies Lucid Motors (LCID) and Rivian (RIVN) have the potential to grow at an exponential rate in the future, making them interesting stocks to consider. However, the lack of earnings and revenue visibility for both companies exacerbates the risk factor significantly. So if you want to take a risk, which EV stock is currently the better investment?.In the last few trading sessions, shares of electric vehicle (EV) companies such as Lucid Group (LCID) and Rivian (RIVN) have been extremely volatile. Both companies are yet to generate any meaningful sales but already command a multi-billion-dollar valuation.
LCID stock was listed on the NASDAQ in early 2021 and has since returned over 400% to shareholders. However, the stock is also down 20% from all-time highs. Comparatively, RIVN went public this month and its IPO was priced at $78 per share. RIVN stock touched a record high of $179 last week but has fallen about 33% since then.
Today I’ll analyze both EV companies to determine which should be on your shopping list right now.