Shares of Rivian Automotive (NASDAQ: RIVN) fell 8.5% on Tuesday, deepening the electric vehicle (EV) maker's descent from its post-IPO highs.
Rivian's stock price is now down nearly 60% from the highs above $179 that it reached shortly after its initial public offering in November. The stock has violently reversed course in recent months, as the initial excitement about Rivian's IPO has worn off.
Additionally, investors have shifted their focus from growth potential to valuation and risk management, as inflation rears its ugly head once again.
Source Fool.com