2 Beaten-Down Stocks With Massive Upside Potential
Key PointsRivian has attractive growth opportunities in the electric vehicle industry, but it faces stiff competition from the EV market leader.
Investors are searching for stocks that have been underperforming, but still have significant upside potential. Two companies that could be worth a closer look are Rivian Automotive (NASDAQ: RIVN) and Robinhood Markets (NASDAQ: HOOD).
Rivian, an electric vehicle manufacturer, has experienced a decline in its stock price, down 29% from its 52-week high. This decrease may be attributed to recent actions such as the company issuing new shares to raise funding, which dilutes existing shareholders. Despite this volatility, there are reasons to remain optimistic about Rivian's prospects. The introduction of the R2 model, a more affordable mass-market electric vehicle compared to their previous offerings, could be a game-changer for the company.
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