Rivian Automotive's stock rebounded by 4.40%, reducing its year-to-date loss to -12.11% as it explores the e-bike market with a $111.13 million investment. The company is under pressure from tariffs and a bearish outlook, with Bernstein predicting a potential 50% drop due to reliance on imported lithium-ion batteries. Despite losses, institutional interest remains, highlighted by investments from Mountain Hill and Amazon. Rivian's IPO growth is stunted, trading over 91% lower than its peak, amid significant operational expenses and vehicle deliveries.
"Despite manufacturing all of its electric vehicles in the U.S., Rivian relies on key imports - such as lithium-ion batteries - from South Korea and China."
"Earlier in April, Bernstein reiterated its bearish stance on the stock, stating that it could face nearly 50% downside from current prices as it faces notable headwinds."
"The company reported full-year earnings in late February, announcing a negative gross profit of $1.2 billion compared to negative $2 billion in 2023."
"The cash infusion was a much-needed lifeline for Rivian, with $3.7 billion in operating expenses in 2021 and only delivering 920 vehicles."
Collection
[
|
...
]