Why Rivian, Workhorse, and Canoo Stocks Are Slumping
Easy come, easy go.
Following three days of steadily rising stock prices reinforced by a positive analyst report Wednesday, shares of EV truck-maker Rivian Automotive (NASDAQ: RIVN) shifted back into reverse on Friday morning -- down by 3.3% as of noon ET. Fellow electric truck-making start-ups Canoo (NASDAQ: GOEV) and Workhorse Group (NASDAQ: WKHS) weren't faring any better, down 3.6% and 6.3%, respectively.
Why is all this happening? I blame (NASDAQ: TSLA) -- and its Cybertruck.
Source Fool.com
Tesla Inc Stock
€168.20
0.050%
Our community is currently high on Tesla Inc with 56 Buy predictions and 27 Sell predictions.
With a target price of 242 € there is a positive potential of 43.88% for Tesla Inc compared to the current price of 168.2 €.
Comments
As I know Rivian seems to be facing uncertain demand for its R1T electric pickup, even as it struggles to match a $6.8 billion-a-year cash burn rate against cash reserves that have dwindled to just $11.2 billion -- enough to keep it going for less than two year. Therefore, investing into Rivian is not a good decision. Thanks for sharing this great article and uno online.
