Rivian Just Told Investors What They've Been Waiting For. Is It Time to Buy the Stock?
Rivian Automotive (NASDAQ: RIVN) had a brutal first half of the year: The stock lost 75% of its value in just six months. Rivian's move to hike vehicle prices hit a nerve with customers; its full-year production outlook announced in March fell sharply short of analysts' estimates; and a large investor dumped shares of the electric vehicle (EV) start-up.
With key inputs like semiconductor chips still in short supply and prices of raw materials surging, many even started wondering whether Rivian would be able to produce 25,000 vehicles this year like it planned to.
The company may have just answered the question every investor has in mind.
Source Fool.com
