Home 2024 2 EV Stocks Poised for Growth in 2024 $FSK $RIVN

2 EV Stocks Poised for Growth in 2024 $FSK $RIVN

by S. Jack Heffernan Ph.D

Identifying stocks with the potential to double or skyrocket within months is a daunting task. While quick gains are enticing, the wiser approach often involves investing in robust companies set for long-term growth. As we navigate the dynamic landscape of the stock market, the electric vehicle (EV) sector emerges as a promising frontier, despite its recent ups and downs. Let’s delve into two EV stocks—Rivian and Fisker—that could redefine their trajectories in 2024.

1. Rivian: Rising from Challenges

Rivian, not too long ago, stood as a risky bet in the EV arena. Production hiccups and escalating cash burn rates weighed down its stock value. Fast forward to 2023, and Rivian showcased resilience, producing 57,232 vehicles and achieving deliveries of over 50,122 units. The momentum continues into 2024, with the manufacturer’s Q4 production touching 17,541 vehicles.

The company’s recent partnership with AT&T signifies its growing commercial appeal beyond its initial association with Amazon. Furthermore, Rivian’s strategic initiatives, such as its leasing program, underscore management’s confidence in production capabilities. As the company prepares to break ground on its Georgia factory, anticipation builds around its next-generation R2 vehicles.

With 2024 earmarked as the year Rivian aims for gross profit positivity, its stock could be on the cusp of a significant upswing, backed by promising growth catalysts.

2. Fisker: Navigating Challenges

Fisker’s journey has been marked by investor skepticism, primarily concerning its financial disclosures and the 2023 decision to curtail production. However, the company closed 2023 on a positive note, witnessing a surge of over 300% in EV deliveries from Q3 to Q4.

A closer look reveals an opportunity: Fisker’s production of 10,142 Ocean SUVs in 2023 vastly outpaced its deliveries, indicating room for revenue growth. Addressing this gap hinges on Fisker’s ability to enhance its delivery infrastructure, a challenge the company acknowledges.

In a strategic move, Fisker unveiled plans to establish approximately 100 dealer locations across Europe and North America. This aggressive dealership strategy could be the linchpin for bolstering sales and instilling investor confidence.

Conclusion

The U.S. EV market, while brimming with potential, has encountered its share of obstacles, from economic uncertainties to competitive pricing dynamics. Nevertheless, both Rivian and Fisker present compelling growth narratives for 2024. As these companies navigate challenges and leverage growth opportunities, investors poised to capitalize on the EV sector’s evolution could witness substantial stock appreciation.

Shayne Heffernan

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.