From Nasdaq: 2024-06-23 09:00:00

Rivian Automotive (NASDAQ: RIVN) has seen its stock plummet by roughly 60% from its 52-week highs, and over 90% from its all-time highs post-IPO in late 2021. The company faces challenges due to the waning hype around electric vehicles and disappointing financial performance. Investors are cautioned to tread carefully.

Despite Rivian’s impressive milestone of scaling up production to nearly 60,000 vehicles a year, it incurred a loss of nearly $39,000 on every vehicle sold in the first quarter of 2024. The company is focusing on improving profitability and aims to achieve a modest gross profit by the fourth quarter of 2024. Launching a lower-priced model is a key goal for future success.

Investors should exercise caution before considering investing in Rivian stock, given its high-risk nature and current market conditions. The Motley Fool Stock Advisor team has not included Rivian in its list of 10 best stocks to buy now, emphasizing the importance of thorough research and strategic investment decisions. Considering historical data and analyst recommendations can help guide investment choices.



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