Rivian Automotive recalls nearly 20,000 R1S and R1T EVs in the U.S. due to toe-link issue, following NHTSA warning. Company to replace bolts free of charge. Investors advised caution due to recall costs and production decline.

Rivian, California-based EV manufacturer, known for premium models R1T and R1S. Market cap $23.5 billion, emphasizes vertical integration and R&D for next-gen features. Plans to open second U.S. plant in Georgia. Builds commercial fleets, recently partnered with Amazon.

RIVN stock rises on Wall Street, fueled by R2 vehicle launch optimism and $5.8 billion joint venture deal with Volkswagen. Stock up 38% over 52 weeks, 47% over 6 months. Trading at high price-to-sales ratio of 3.76.

Rivian reports Q3 revenue of $1.56 billion, up 78% YoY. Automotive revenue increases 47% to $1.14 billion due to higher deliveries and rising selling prices. Adjusted loss per share improves to $0.65, but below estimates.

Analysts have mixed views on Rivian’s trajectory. Q4 loss per share expected to increase 31%, while full-year loss per share projected to drop 30%. Piper Sandler maintains “Neutral” rating, while Baird upgrades to “Outperform.”

Morgan Stanley downgrades RIVN to “Underweight” citing concerns over R2 release and challenging EV market. Wall Street consensus “Hold” rating with varied opinions. Price target ranges from $12 to $25. Consensus target at $16.58, potential 14% downside.

Read more at Yahoo Finance: 20,000 Reasons to Consider Selling Rivian Stock Here