Jim Cramer on Rivian: "Don't Pull the Trigger Here"

Rivian Automotive, Inc. (NASDAQ:RIVN) is one of the stocks Jim Cramer shared his opinions on. During the lightning round, when a caller asked about the stock, Cramer said:

“Here’s the problem… They spent a lot of money on that factory. I think that if we’re, if we have a slowdown, and the Fed doesn’t bail us out, I think you’re going to find that stock, you can buy that stock lower. So I say, wait, wait, wait. Don’t pull the trigger here… It’s up on a spike.”

Rivian Automotive, Inc. (NASDAQ:RIVN) designs, manufactures, and sells electric trucks, SUVs, and commercial vans, alongside accessories and software services. Additionally, it operates fast-charging networks, offers fleet management solutions, and sells directly to consumer and commercial customers. In a July episode of Squawk on the Street, Cramer mentioned the company and said:

“I think that you need a commitment, like the VW commitment to Rivian is extraordinary. And it still hasn’t, still Rivian is back to where it was [inaudible]. That’s an open-ended check from one of the biggest, the biggest car company.”

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Disclosure: None. This article is originally published at Insider Monkey.