(C) Reuters. Rivian vs. Hyliion Holdings: Which Electric Vehicle Stock Is a Better Buy?
Rivian (RIVN) and Hyliion Holdings (HYLN) are both electric vehicle (EV) stocks that are yet to report any material revenue but are in a fast-growing industry. Today I’ll analyze each company to determine which is currently the better stock to buy.The last few trading sessions have seen a significant decline in growth stocks. Investors are worried about rising inflation rates which in turn might lead to higher interest rates going forward. Further, the steep valuations of several companies on Wall Street have also contributed to the sell-off.
The electric vehicle (EV) industry has been one of the losers, with the Global X Autonomous & Electric Vehicles ETF (DRIV) down 4.7% in the past week. Shares of EV manufacturers Rivian (RIVN) and Hyliion (HYLN) have seen even bigger losses, each down more than 13%.
Given the rapidly expanding addressable market for companies part of the EV space, the ongoing pullback could present a buying opportunity for long-term investors. With that in mind, if you’re considering buying an EV stock on the dip, today I’ll analyze both RIVN and HYLN to determine which is currently the better investment.
Rivian vs. Hyliion Holdings: Which Electric Vehicle Stock Is a Better Buy?
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