Did Rivian Already Hit a 2024 Speed Bump?
It's probably fair to call electric vehicle (EV) investors a little skittish. That's reasonable when you consider the EV industry is growing slower than expected in the U.S. market. And when you consider that many young EV manufacturers are dealing with price wars, unprofitable vehicles, and a cash crunch, it doesn't take much bad news to derail an EV stock right now.
Rivian's (NASDAQ: RIVN) stock dipped when it released fourth-quarter production and delivery figures, but is it a reason for investors to panic? Not so fast: Let's dig in.
Rivian produced 17,541 vehicles during the fourth quarter and delivered 13,972 of those during the same period. Those figures are obviously favorable compared to the prior year's 10,020 produced, with deliveries of 8,054. But they are not as favorable in terms of deliveries when compared to the third quarter's 16,304 in production with deliveries of 15,564.
Source Fool.com
