5 Best EV Stocks To Buy in 2024

4. Rivian Automotive, Inc. (NASDAQ:RIVN)

Number of Hedge Fund Investors In Q4 2023: 32

Rivian Automotive, Inc. (NASDAQ:RIVN) is an American electric vehicle company that makes electric trucks, SUVs, and vans. Its shares tanked by a painful 13% in aftermarket trading after its latest earnings report that saw Rivian Automotive, Inc. (NASDAQ:RIVN) announce a 10% headcount reduction and a 2024 production estimate of 57,000 vehicles that missed consensus estimates of 81,700.

As of December 2023, 32 out of the 933 hedge funds profiled by Insider Monkey were the firm’s shareholders. Rivian Automotive, Inc. (NASDAQ:RIVN)’s biggest hedge fund investor is D. E. Shaw’s D E Shaw as it owns $395 million worth of shares.

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