Why Wall Street Analysts Got Rivian Stock's Price Targets All Wrong

Tesla's success drew many players in the growing electric vehicle (EV) space. While all the new entrants might not succeed, some look promising. Rivian (NASDAQ: RIVN), which went public less than five months ago, drew immense interest from investors and analysts alike soon after listing. But developments since then have made analysts increasingly concerned about the young company's prospects, prompting sharp price-target cuts.

Let's check what caused analysts to change their minds on Rivian stock within such a short time. More importantly, are their new price targets right this time?

Source Fool.com