The Ratings Game
Negatives outweighing positives for Rivian, analyst says
Rivian Automotive Inc. stock dropped more than 17% on Wednesday, a day after the electric-vehicle maker pinned mixed quarterly results and a weaker production guidance on manufacturing snags that many on Wall Street thought were in the rearview mirror.
Rivian stock RIVN was on track for its lowest close since Jan. 20 and its worst one-day drop since May 9, when it fell 21%. The stock is down 90% from its record closing high of $172.01 hit in November 2021 shortly after its massive IPO.