Why Rivian Stock Dropped Today
The electric vehicle (EV) sector is in a state of flux. Some manufacturers are pulling back as demand growth hasn't met or exceeded early expectations. But growth does continue and U.S. EV sales grew 7.3% in 2024 year over year, according to Kelley Blue Book.
That's crucial for start-ups like Rivian Automotive (NASDAQ: RIVN) as it needs volume to see sales turn into profits. But one new major headwind has Rivian stock sinking today. Shares dropped as much as 5.3% and remained lower by 2.2% as of 11:30 a.m. ET.
Source Fool.com
