Rivian Automotive (NASDAQ: RIVN) had a blockbuster IPO, opening at $106.75 and hitting a high of $172.01. Despite a market cap of $153 billion, it’s now trading at $10. The company faced challenges in 2023 but expects to produce 47,000-49,000 vehicles in 2024. Its revenue grew to $4.43 billion in 2023, with a net loss of $5.43 billion. Rivian plans to launch new SUVs and fulfill Amazon’s order for 100,000 delivery vans. While risky, Rivian’s stock could offer long-term gains, but it’s not guaranteed. Analysts suggest caution before investing $1,000 in Rivian Automotive.

Read more at Nasdaq: Could Buying Rivian Automotive Stock Today Set You Up for Life?