Is Rivian Stock a Buy?
Since hitting the market in 2021, Rivian Automotive (NASDAQ: RIVN) has offered investors potential instead of results. Its cars boast excellent design and performance. However, management has been unable to translate these advantages into sustainable shareholder value.
Production and delivery figures consistently disappoint. Meanwhile, the stakes are getting higher as more brands race to compete in the luxury SUV side of the electric vehicle (EV) opportunity. Let's dig deeper to find out what these trends could mean for Rivian's long-term performance.
Rivian has a long track record of disappointing its shareholders. Third-quarter deliveries were no exception, falling 36% year over year to just 10,018 vehicles (compared to analyst expectations of 13,000). The company also cut its 2024 production target from 57,000 units to between 47,000 and 49,000.
Source Fool.com
