Rivian Automotive experienced a 5.76% loss in stock price over the last five trading sessions, a decline of 27.27% from its year-to-date high. Year-to-date, Rivian's shares are down 6.90%, with a 15.56% decrease year-over-year. The company is developing a Georgia plant set to open in 2028 and has partnered with Google Maps for an improved navigation system. Financially, Rivian plans to issue $1.25 billion in green notes due in 2031 to address debt issues as it anticipates challenges in vehicle deliveries. Institutional ownership of the stock is currently at 55.70%.
Rivian Automotive's shares have dropped 5.76% over the last five trading sessions, marking a 27.27% decline from its year-to-date high. Currently, shares are down 6.90% over the year and 15.56% from last year.
The company announced plans to issue $1.25 billion in senior secure green notes due 2031 to manage its existing debt as vehicle deliveries have slumped.
Rivian's partnership with Google Maps will enhance its vehicle navigation system, utilizing Google's Automotive SDK while maintaining its customized interface.
Despite a strong IPO in November 2021, Rivian reported a gross profit loss of $1.2 billion in 2023, showing a need for improved financial performance and delivery results.
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