Rivian Automotive (NASDAQ: RIVN) stock dove this morning after the electric vehicle (EV) manufacturer pulled the plug on a potential deal with the world's most popular luxury car brand barely three months after announcing an agreement. Rivian stock dropped 5.2% within minutes of the market's opening Monday. In early September, Rivian and Mercedes-Benz announced a joint venture to build affordable commercial electric vans, with initial plans including two large vans. Read More...
Motley Fool
3 Luxury Stocks to Buy That Could Thrive in a 2023 Recession
With inflation still running hot, there’s worry that what has been a resilient consumer up to this point could finally tighten up on spending and induce an economic downturn. If you’re looking to play defense with your consumer discretionary stocks, you can put the rich to work in your portfolio and profit. With that in mind, LVMH Moët Hennessy Louis Vuitton (OTC: LVMUY), Tapestry (NYSE: TPR), and Lululemon Athletica (NASDAQ: LULU) are three luxury stocks that could thrive even if a recession strikes in 2023.
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