Nasdaq Bear Market: Is It Time to Put the Rivian Buying Spree on Pause?
When electric vehicle (EV) start-up Rivian Automotive (NASDAQ: RIVN) went public in November 2021, it fetched a premium valuation and had no problem raising capital. But the company is burning through the cash it raised from its initial public offering at a breakneck pace, so much so that it had to raise more capital.
Rivian stock reached a new all-time low on March 8, and is now down a staggering 92% from its all-time intraday high of $179.47 on Nov. 16 2021. Is now the time to back up the truck on this EV pickup truck maker, or is Rivian stock simply not worth the risk?
Image source: Rivian Automotive.
Source Fool.com
