At an All-Time Low, Is It Time to Give Up on Rivian Stock?
Rivian Automotive (NASDAQ: RIVN) crashed to a new all-time intraday low on Thursday after the electric pickup truck, SUV, and delivery van maker reported a wider-than-expected quarterly loss and missed its 2022 production estimate.
Even after rebounding by 7.6% on Friday, Rivian stock is down 90% from its all-time high and is burning through cash at a breakneck pace. Let's determine if it's time to throw in the towel on Rivian or if the stock is worth buying now.
Image source: Rivian Automotive.
Source Fool.com