What's Going On With Rivian Stock Today?
Portfolio Pulse from Ryan Gustafson
Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower, with a nearly 20% decline since the company reported its Q2 financial results in early August. Despite beating analyst consensus estimates for both losses per share and sales, the stock has been under pressure. Recent price cuts in the EV industry have also put pressure on Rivian to follow suit.
August 22, 2023 | 7:34 pm
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Rivian's stock is trading lower despite beating Q2 earnings estimates. The stock is under pressure due to recent price cuts in the EV industry.
Rivian's stock is trading lower despite positive Q2 earnings, indicating that other factors are influencing the stock price. Recent price cuts in the EV industry, which have put pressure on Rivian to lower its prices, could be contributing to the stock's decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100