With Shares Down Nearly 60%, Is Now the Time to Buy This EV Stock?
When Rivian Automotive (NASDAQ: RIVN) came public, investors were initially excited by its prospects. And then reality set in that building a profitable electric vehicle (EV) company from the ground up might be harder than it seemed. The shares have fallen dramatically from their highs at this point.
But before you rush in thinking that you've found a bargain, it is important to understand the next big milestones for the company.
Rivian's shares have fallen roughly 60% from their 52-week highs. That's a really tough number to look at, but the story gets worse when you look back past a single year. Rivian's shares are down a whopping 90%+ from their all-time highs, which came shortly after its initial public offering (IPO) in late 2021.
Source Fool.com
