5 High Growth Consumer Stocks to Buy

4. Rivian Automotive Inc. (NASDAQ:RIVN)

Revenue Growth YoY: 149.44%

Number of Hedge Fund Holders: 32

Rivian Automotive, Inc. (NASDAQ: RIVN), based in Irvine, California, designs, develops, and manufactures category-defining electric vehicles and accessories and sells them directly to customers. Founded in 2009, the company has launched three vehicles so far, R1T and R1S adventure vehicles, and EDV – an electric delivery van custom-designed for Amazon.

On January 2, Rivian Automotive, Inc. released its production figures for 2023. During the year, the company produced 57,232 vehicles which exceeded its production guidance of 54,000. Earlier in Q3 2023, its revenue increased by 149% y-o-y to $1.3 billion.

As of Q4 2023, Rivian Automotive Inc. (NASDAQ:RIVN) shares were owned by 32 prominent hedge funds tracked by Insider Monkey. D E Shaw was the lead hedge fund shareholder with ownership of 16.8 million shares valued at $396 million.