Why Rivian Stock Plunged This Week -- and Could Fall Further
Investors who thought Rivian Automotive (NASDAQ: RIVN) stock had bottomed out in March were apparently too optimistic. The electric vehicle (EV) stock tumbled by another 16.5% this week, according to data provided by S&P Global Market Intelligence.
Interestingly enough, at least one analyst expects Rivian stock to more than double from its current price, but investors are finding it hard to maintain faith in the electric truck start-up.
Rivian filed its annual 10-K report with the Securities and Exchange Commission on March 31. While its numbers were nothing to write home about, the filing gave investors a bit more insight into something they hadn't been privy to earlier -- the impact of the Russia-Ukraine conflict on Rivian's operations.
Source Fool.com
