Rivian is Heading Back to $10 or Lower: Here's Why
Rivian Automotive(RIVN) MarketBeat·2024-08-08 20:00
Rivian Automotive TodayRIVNRivian Automotive8.26▼19.67Add 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. ...