Rivian On Path To Profit Despite Musk's Doubts? Analyst Tells Why EV Startup Can Achieve Goal By End Of Next Year
Portfolio Pulse from Anan Ashraf
Rivian Automotive Inc (NASDAQ:RIVN) is gradually reducing losses and moving towards profitability, despite Tesla CEO Elon Musk's warning of potential bankruptcy due to high spending. The company delivered 12,640 vehicles in Q2 2021, with a loss of $1.2 billion, marking a significant reduction in loss per vehicle. Rivian aims to achieve a positive gross profit by 2024, with increased production volume. The company has also outlined strategies to reduce costs, such as eliminating certain customization options.
November 07, 2023 | 11:03 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Rivian is reducing losses and moving towards profitability, with a goal to achieve positive gross profit by 2024. The company has also outlined cost reduction strategies.
Rivian's efforts to reduce losses and move towards profitability, along with its cost reduction strategies, are likely to have a positive impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla CEO Elon Musk warned of potential bankruptcy for Rivian due to high spending.
Elon Musk's warning about Rivian's potential bankruptcy due to high spending is not likely to have a significant impact on Tesla's stock.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Lucid Group Inc has projected a cash burn rate of approximately $900 million per quarter over the next seven quarters.
Lucid Group's projected high cash burn rate over the next seven quarters is likely to have a negative impact on its stock.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50