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Today I’ll analyze and compare two popular electric vehicle stocks, Rivian Automotive, Inc. (RIVN) and Nikola Corp. (NKLA). Based in San Jose, California, RIVN develops and manufactures electric pickup trucks and sports utility vehicles. The company recently went public through a traditional IPO by selling 153 million shares at $78.00 per share. Shares of RIVN are currently trading at about $118, up around 51% over its IPO price.
NKLA is an Arizona-based company that engages in the development of electric semi-trucks. It also owns the energy business. Year-to-date (YTD), NKLA stock is down about 30%.
