Rivian Stock Under $20 -- Is Now the Time to Buy?

Core Viewpoint - Rivian is preparing to deliver its new R2 fleet of electric vehicles in the second quarter of 2026, which is crucial for the company's path to profitability and presents a potential investment opportunity for investors [1][2]. Group 1: R2 Fleet Launch - The R2 fleet is set to start at a price of $45,000, significantly lower than Rivian's previous vehicles priced over $75,000, marking a shift from a luxury brand to a mass-market player [4]. - Over 68,000 reservations for the R2 were made within the first 24 hours of the fleet announcement in 2024, indicating strong consumer interest despite recent slowdowns in electric vehicle sales [5]. Group 2: Delivery and Sales Projections - In 2025, Rivian delivered 42,247 vehicles, with projections for 2026 indicating deliveries could reach between 62,000 to 67,000, suggesting a substantial increase in sales driven by the R2 fleet [6]. Group 3: Financial Performance - Rivian's partnership with Volkswagen is enhancing its balance sheet, contributing to a gross profit of $576 million from software and services in 2025 [7]. - Overall gross profit for Rivian was $144 million in 2025, with the automotive segment reporting a loss of $432 million, a significant reduction from a $1.2 billion loss in 2024 [8]. Group 4: Market Performance and Risks - As of February 13, Rivian's stock is down over 10% year-to-date and remains volatile, with a beta of 1.77, indicating potential execution risks related to supply chain issues as the R2 launch approaches [9].