Rivian Automotive (NASDAQ: RIVN) shares have dropped this week along with many technology and growth stocks. But while the tech-heavy Nasdaq Composite index was off by nearly 2% for the week as of early Friday morning, Rivian was down by more than 13%, according to data provided by S&P Global Market Intelligence.

That decline brought the electric vehicle (EV) stock to its lowest level in more than six months. But a short-term upside catalyst for the stock may appear next week, too. 

Rivian's shares slumped after investors learned that it's pulling back from some previously announced growth plans. In September, Rivian announced plans for a joint venture electric van business in Europe with Mercedes-Benz Group. That project seemed like a natural extension of the company's U.S.-based electric delivery van production for Amazon. But this week, Rivian said that it's putting that partnership with Mercedes-Benz on pause to conserve capital for use in other areas of its business. Investors took that as a bad sign. 

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Source Fool.com