Where Will Rivian Automotive Stock Be in 1 Year?
When Rivian Automotive (NASDAQ: RIVN) went public in November 2021, it claimed it could produce 50,000 electric vehicles (EVs) in 2022. But last March it halved that target to 25,000 amid persistent supply chain constraints.
Rivian repeatedly assured investors it could hit that lower target, but it only produced 24,337 vehicles for the full year. That miss -- along with a recent recall, allegations of unsafe work conditions, and the suspension of its EV partnership with Mercedes-Benz (OTC: MBGY.Y) -- all caused Rivian's stock to remain nearly 80% below its IPO price of $78.
Image source: Rivian Automotive.
Source Fool.com
