Why Rivian Stock Sank Early Tuesday
At a time of high, and rising, oil prices, electric vehicle (EV) stocks would seemingly become more interesting to investors. But a series of missteps has driven the shares of Rivian Automotive (NASDAQ: RIVN) to all-time lows recently. Today, shares plunged again, dropping more than 6% at the market open. But investors continue to weigh the various dynamics of the sector, and the stock rebounded sharply before settling back to a gain of 2.2% as of 10:56 a.m. ET.
The initial drop came after Barclays analyst Brian Johnson slashed his price target for the EV start-up by more than half, from $115 to $47 per share, as reported by Thefly.com.
Source Fool.com
