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Why Rivian Stock Keeps Going Down

TheMotleyFool

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Why Rivian Stock Keeps Going DownPhoto, wide shot, wide-angle lens, soft focus, Car manufacturer, sunset photo at golden hour, photo by Art Wolfe: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-iZxNvwmEDAT2zuvMswp8MrIk.png?st=2023-05-08T05%3A56%3A42Z&se=2023-05-08T07%3A56%3A42Z&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=2023-05-08T03%3A27%3A06Z&ske=2023-05-09T03%3A27%3A06Z&sks=b&skv=2021-08-06&sig=hpaom2wRNOR4VGolGAMc0MX1MdH9zOmjK0MSBHrfkTo%3D

One day after electric truck company Rivian Automotive (NASDAQ: RIVN) voluntarily blew up its stock price by announcing it would raise the price of its R1T pickup truck by 17%, and its R1S SUV by 20%, Rivian stock is tumbling once again on Thursday.

As of 10:25 a.m. ET, Rivian is down another 5% -- a total of an 18% drop since this debacle began.

Image source: Getty Images.

Source Fool.com

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