Tired of Rivian and Lucid? 3 Better Growth Stocks to Buy Now

With everything going on in the stock market and cryptocurrency market, it’s hard for one story to dominate headlines for a day, much less a week. Yet that’s exactly what electric vehicle (EV) stocks have done since Rivian Automotive (NASDAQ:RIVN) had its initial public offering (IPO) last week. After debuting at a price of $78 per share, Rivian stock has already doubled. Similarly, share prices of Lucid Group (NASDAQ:LCID), a luxury EV company, have more than doubled in the last month. But those gains are in the past. It’s time to look at what’s the best option now. 

Investors scanning the horizon for growth stocks may be better off taking a look at Trimble (NASDAQ:TRMB), Array Technologies (NASDAQ:ARRY), and MP Materials (NYSE:MP). Here’s why some Fool.com contributors think each is a great buy now.

The infrastructure bill is just one of many growth drivers for Trimble

Lee Samaha (Trimble): Trimble is a leading light in the positioning and modeling business. As such, its roots lie in the geospatial industry (mapping and surveying). The geospatial industry is still a significant end market — making up around 23% of Trimble’s third-quarter revenue. However, its largest end market is buildings and construction (39% of revenue). The other two end markets are the fast-growing resources and utilities (20% of revenue) space and transportation (18% of revenue).

Trimble’s solutions are increasingly used as an integral part of its customers’ daily activities. For example, trucking companies use Trimble to make sure their fleets are running safely and effectively, all the time analyzing real-time data to improve performance. In agriculture, its precision agriculture hardware and software help farmers make better decisions when it comes to planting, nurturing, and harvesting crops.

Moreover, in building and construction, the company’s technology helps contractors accurately complete building and infrastructure projects, and in doing so, reduce waste and carbon emissions. As such, the infrastructure bill will lead to plenty of growth opportunities as upgrading the nation’s infrastructure can be achieved in a more cost-efficient and environmentally friendly way using Trimble.

Given the explosion of connected devices, digital technologies, and analytics capability, it’s highly likely that there will be increased adoption of positioning and modeling technology in the future. Again, Trimble is ideally placed to take advantage.

This solar stock went from cold to hot

Daniel Foelber (Array Technologies): Share prices of solar tracking manufacturer Array Technologies have staged quite the comeback since falling 74% from its high in May. The company was caught completely off guard by supply chain constraints and rising raw material costs — namely steel. The news not only stunted its growth, but crippled its margins, too.

Although the company’s short-term performance continues to…