Rivian is Heading Back to $10 or Lower: Here's Why
RIVNRivian Automotive(RIVN) MarketBeat·2024-08-08 20:00

Rivian Automotive TodayRIVNRivian Automotive13.781.02 (6.8913.78 -1.02 (-6.89%) 52-Week Range8.26▼25.73PriceTarget25.73Price Target19.67Add to WatchlistRivian NASDAQ: RIVN made progress on several fronts in Q2 and reached a pivotal quarter, at least in the eyes of its CEO. However, despite the good news, the stock price will return to $10 and may move even lower. The reason is simple. Rivian isn’t making money but burning it. Costs are up YoY despite cost-control efforts, and it’ll be a long time until true profitability is reached.  ...