Rivian Automotive (NASDAQ: RIVN) went public with a famously successful initial public offering (IPO) on Nov. 10, 2021, at a price of $78 per share. The company banked nearly $12 billion from the IPO, and the stock price took off from there, reaching well over $100 per share.

But Rivian shares have been tanking recently, including dropping as much as another 6% today, reaching an all-time low price of $18.55. That's a drop of more than 76% from its IPO price. 

Shares bounced off those lows but remained down by 3.8% as of 11:10 a.m. ET. For the week, the stock was down nearly 14% as of that time. There are some good reasons for that. 

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Source Fool.com