Rivian Stocks: Analysis and Future Outlook
Rivian Automotive Inc.’s stock has been trading up by 4.22 percent amid positive sentiment fueled by strong Q3 earnings report.
Key Market Updates
- Rivian had a rough Q2, recording a loss of $0.97 per share, which was an improvement from last year’s loss of $1.46. However, revenues showed an uptick, hitting $1.30B, up from $1.16B.
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Chris Pierce at Needham adjusted their price prediction for Rivian’s stock, dropping it to $14 from $16, highlighting a slower demand while acknowledging Rivian’s distinct edge in the electric vehicle sector.
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The company’s issues in Ohio as it challenges a sales ban on EVs are drawing attention. Rivian claims this ban, favoring Tesla, stifles competition, which could have major…
