How To Buy Rivian Stock (RIVN)

Cheryl Lock is a freelance financial writer based in Arvada, CO. Her work has appeared in The New York Times, The Washington Post, MarketWatch, USA Today, Money and Newsweek, among others.

Cheryl Lock

Cheryl LockContributor

Cheryl Lock is a freelance financial writer based in Arvada, CO. Her work has appeared in The New York Times, The Washington Post, MarketWatch, USA Today, Money and Newsweek, among others.

Contributor

Benjamin Curryeditor

Ben is the Retirement and Investing Editor for Forbes Advisor. With two decades of business and finance journalism experience, Ben has covered breaking market news, written on equity markets for Investopedia, and edited personal finance content for Bankrate and LendingTree.

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Benjamin Curry

Benjamin Curryeditor

editor

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Published: Oct 17, 2022, 9:24am

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations.

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Companies developing electric vehicles (EVs) are a hot new sector of the tech industry. They’re also a great investment choice if you’re committed to buying stocks that focus on sustainability and saving the planet.

Rivian Automotive (RIVN) is an EV startup company that went public in 2021. Rivian’s most promising products include electric pickups and SUVs, as well as batteries. The Rivian membership system provides owners with access to vehicle chargers around the country.

When it comes to investing, finding companies that you believe in and that support the same goals that you do is important. At the same time, it’s always risky to invest in individual companies, particularly ones that are newly public. Here’s what you need to know about buying shares of Rivian stock.

How to Buy Rivian Stock

Pick the right platform for your investments. If you don’t already have one, you need a brokerage account to buy shares of RIVN. A taxable investment account allows you to buy a wide range of assets beyond just stocks, like exchange-traded funds (ETFs) and mutual funds. Brokerage accounts may have account minimums and other fees, so be sure to closely examine your options before you decide which account is right for you.
Brokerage accounts are available from online brokers, investment apps, robo-advisors or even full-service brokers. If you decide to go with a full-service option, you’ll have access to a more well-rounded range of services, like estate and retirement planning, but you’ll probably pay the most in fees. Online brokers, investment apps and robo-advisors may also offer automated management.
Select the right type of account. Once you’ve decided on the right investing platform, you need to determine which type of account you want. Options like individual retirement accounts (IRAs) offer a tax-advantaged way to make deductible contributions or earn tax-free growth. If you’d rather have access to your cash without age restrictions, a taxable brokerage account is more flexible but subject to capital gains taxes.
Decide how much to invest. Before buying shares of Rivian, you’ll want to make sure your essentials are covered. This means setting up a budget to cover essential costs like your rent or mortgage, transportation, utilities and food, as well as your savings goals.You’ll also want to set aside a smaller portion of your budget for non-essentials like eating out and “fun” purchases, like clothing and entertainment. Only buy Rivian shares once you have a good idea of how much money you can afford to spend.
Research Rivian’s performance. It’s essential for you to research the latest financial results information on a company before purchasing shares of their stock. Rivian posted its latest earnings results on its investor relations page. Keep in mind that newer companies tend to experience growing pains. Rivian, for example, recalled approximately 1% of its vehicles in October 2022 for a potential steering defect, causing RIVN stock to slip down further.If you’re fairly new to investing or have a low tolerance for risk, a newer stock like Rivian might not be the right choice for your investment portfolio. If you truly believe in the mission of the company and you’re okay with weathering the ups and downs of a younger company like Rivian, then buying early could be the right time to invest.
Enter a purchase order. After you’ve done your research and determined that Rivian is the right stock for you, investing in the stock is pretty easy. If you’re working with an advisor, let them know you’d like to buy shares of the company and how much you’re willing to invest, and they’ll do it for you.If you’re using a brokerage account on your own, log in and enter the ticker symbol—RIVN—in the search bar. Then put in either the number of shares or the dollar amount you’d like to purchase. You’ll also select either from a market order—which is processed immediately and at the current price—or a limit order—which is processed once the stock reaches the price that you choose.
Track Rivian’s performance. “Set it and forget it” might be a good rule of thumb for a portfolio of mutual funds, but for single stocks like Rivian you should keep a close eye on company news and performance. Depending on your financial goals, use what you learn about Rivian to reassess whether it’s best to hold onto the stock or let it go.

How to Sell Rivian Stock

If Rivian isn’t performing as you’d hoped or you’ve reached your financial goal that you set when you first invested in the company, selling your shares is simple.

If you’re working with an advisor, they can put in a sale order for you. If you’re going the self-directed route, start again by logging into your account. From there, simply enter RIVN into the search bar, input the number of shares or dollar amount you want to offload, and hit sell.

Lower-Risk Ways to Invest in Rivian

Since buying stock in a single company—and particularly a brand new one—is risky, consider putting your money into an index or exchange-traded fund (ETF) that includes Rivian as part of their overall holdings.

Mutual funds are another way you can invest in Rivian stock. The three mutual funds with the biggest equity stakes in Rivian include the T. Rowe Price Growth Stock Fund (PRGFX), the American Funds Growth Fund of America (AGTHX) and the Vanguard Total Stock Market Index Fund (VTSAX).

Mutual funds and ETFs allow you to diversify your portfolio and lower its overall risk while still supporting a company whose mission and values you believe in.