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Why Rivian Stock Is Tumbling This Week

TheMotleyFool

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Why Rivian Stock Is Tumbling This WeekPhoto, wide shot, wide-angle lens, soft focus, Car manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-YEvJ4lsD0cnHYMSisqF0KmhC.png?st=2023-12-29T13%3A52%3A04Z&se=2023-12-29T15%3A52%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T03%3A19%3A21Z&ske=2023-12-30T03%3A19%3A21Z&sks=b&skv=2021-08-06&sig=cgEmp8qYLk6LiC9uwJEp9XOt32ky3AObpdzG41upqzc%3D

After a stunning rally in July, Rivian (NASDAQ: RIVN) stock is falling back to the ground this month. This week alone, shares of the electric vehicle (EV) manufacturer lost 14.5% through 10 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.

Ironically, Rivian reported better-than-expected numbers for its second quarter, boosted its production guidance for 2023, and the stock attracted plenty of analyst upgrades this week. Yet, something didn't sit well with investors.

Here are some key numbers from Rivian's second-quarter earnings report:

Source Fool.com

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