Why Rivian Could Tank Another 50%
Rivian Automotive (NASDAQ: RIVN) exited 2023 with as much or more momentum than its electric vehicle (EV) start-up peers, but that has slowly eroded through today. Now throw in potential tariffs because Rivian imports key parts for the vehicles it produces in the U.S., and the bears are becoming louder.
That includes Bernstein analyst Daniel Roeska and his team, which had quite a bit to say this week.
The firm maintained its underperform rating and $6.10 price target, which implies a near 50% drop from Wednesday's closing price of $11.49 per share, citing growing tariff effects and financial headwinds.
Source Fool.com
