Here's when Rivian stock could reach $20

Group 1: EV Market Overview - The electric vehicle (EV) market is experiencing increased deliveries and production, with a projection of 250 million electric vehicles on the road by 2030 [1] - Tesla, the largest EV producer in the U.S., saw a 32% stock gain in the previous month, while Rivian's stock increased by 65.28% during the same period [1] - Rivian's stock continued to show gains in the last five trading sessions, with a total increase of 21.37% [1] Group 2: Rivian Stock Performance - Rivian's stock has broken out of its downward trend, indicating a slowing rate of decline, with support at $15.30 and resistance at $24.20 [3] - The stock trades above its 50, 100, and 200-day moving averages, indicating a positive breakout [3] - A positive volume balance suggests that trading volume is higher when the stock price rises, reinforcing the stock's strength [3] Group 3: Analyst Ratings and Price Targets - Wall Street analysts have a "moderate-buy" rating for Rivian, with 12 recommending a "buy," 8 a "hold," and 2 a "sell" [10] - The price targets for Rivian range from $8 to $30, with an average target of $17.26, indicating a potential 4.69% downside from the current stock price of $18.11 [10] - Mizuho recently increased Rivian's price target from $11 to $15 while maintaining a "neutral" rating after the company reported second-quarter vehicle deliveries of approximately 13,800 units, exceeding expectations [11] Group 4: Recent Developments - Rivian's second-quarter vehicle deliveries marked a 9% year-over-year increase and a 1% rise from the previous quarter, surpassing the consensus expectation of about 11,500 units [11] - A new deal with Volkswagen, involving a $5 billion investment in Rivian production, is contributing to a more bullish outlook from Wall Street [11]