What's Going On With Rivian Stock?
Portfolio Pulse from Henry Khederian
Rivian Automotive Inc's shares have dropped by 11.2% over the past five sessions, amid a broader decline in the EV industry. The stock has also fallen roughly 24% in October after the company priced its $1.5 billion green convertible senior notes offerings. The issuance of these notes has increased Rivian's debt burden, raising concerns among investors about the company's ability to meet its financial obligations and potentially leading to higher interest expenses and reduced profitability.
October 20, 2023 | 2:50 pm
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Rivian's stock has dropped significantly due to concerns over its increased debt burden from its recent green convertible senior notes offerings. This could potentially affect the company's ability to meet its financial obligations, leading to higher interest expenses and reduced profitability.
The issuance of the green convertible senior notes has increased Rivian's debt burden, which has raised concerns among investors. This could potentially affect the company's ability to meet its financial obligations, leading to higher interest expenses and reduced profitability. As a result, the stock price has dropped significantly.
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