Why Rivian Stock Fell Again Today
It shouldn't come as a surprise to investors that news moves other stocks in the electric vehicle (EV) sector. But Tesla's quarterly earnings report is only part of why Rivian Automotive (NASDAQ: RIVN) shares are sinking again today.
While much attention was on Tesla and its third-quarter earnings update, Rivian shares have quietly lost more than 10% this week. That includes a drop of 4.2% today as of 11:51 a.m. ET. It's also part of a nearly 30% decline in Rivian shares over the last month.
Prior to last night's third-quarter report from Tesla, investors already knew its production had dropped in the quarter compared to the second quarter. Tesla's third-quarter production of about 430,500 EVs represented a 10% sequential decline.
Source Fool.com
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