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Why Rivian Shares Dropped Today

TheMotleyFool

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Shares of electric vehicle (EV) start-up Rivian Automotive (NASDAQ: RIVN) began the week's trading in the same direction they have been moving over the last month. The stock was down more than 7% early Monday, and remained 4.1% lower as of 2:44 p.m. ET.

Rivian shares are down more than 35% in the last month. And that includes a recovery over the past week that boosted the stock by 20%. There were good reasons for the decline after the company cut its production forecast and noted a sharp rise in costs. Now, the company is getting more potentially bad news concerning its growth plans.

Rivian's factory in Illinois. Image source: Rivian Automotive.

Source Fool.com

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