Rivian Stock Plummets Amid Downgrade and EV Market Focus
TL;DR Summary
Rivian Automotive (NASDAQ: RIVN) stock is down 6% after an analyst downgraded its price target by nearly 35% due to a weak 2024 outlook, citing risks to volumes and margins. Despite efforts to ramp up production and improve gross loss per vehicle, concerns about demand, order fulfillment, and achieving a positive margin persist. Investors await the company's Q4 and full-year numbers on Feb. 21 for clarity on its path forward.
Topics:business#analyst-downgrade#electric-vehicles#finance#production-challenges#rivian-automotive#stock-market
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