What's Going On With Rivian Stock?
Portfolio Pulse from Henry Khederian
Rivian Automotive Inc (NASDAQ:RIVN) shares fell by 1.3% to $19.24 on Friday after reporting Q4 deliveries of 13,972 vehicles, slightly below the expected 14,114. The stock has seen an 18% decline since the beginning of 2024. Fund manager Gary Black commented that the market's reaction might be overblown, despite a 10% drop in deliveries from the previous quarter. Rising Treasury yields are also affecting growth stocks like Rivian, as higher interest rates increase the discount rate, reducing the present value of future cash flows and affecting stock valuations. RIVN's 52-week range is between $11.68 and $28.06.
January 05, 2024 | 5:40 pm
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NEGATIVE IMPACT
Rivian's stock price fell after reporting Q4 deliveries slightly below expectations, contributing to an 18% decline in early 2024. Rising Treasury yields are also negatively impacting growth stocks like Rivian.
Rivian's stock price is likely to face short-term pressure due to the delivery miss and the broader market trend of rising Treasury yields affecting growth stocks. The delivery miss, although slight, may shake investor confidence, while the macroeconomic environment could lead to a reevaluation of growth stock valuations.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100