What's Going On With Rivian Stock?

Excitement reached a fever pitch for electric vehicles (EVs) in 2021 when Rivian Automotive (NASDAQ: RIVN) hit the public markets. The EV start-up had a market cap of over $100 billion, even though it was barely starting to deliver products to customers. With a focus on upscale outdoor vehicles sold as better for the planet, many investors were betting this would be the next Tesla in the fast-growing EV sector.Today, in 2024, expectations have come down quite a bit. Rivian's stock is down more than 90% from all-time highs to a market cap of $11 billion as the company posts heavy losses each quarter and slowing delivery growth. What's going on with Rivian stock, and should investors buy the dip at this discounted price?Let's take a closer look and find out.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Zum vollständigen Artikel