EV maker Rivian may report first quarterly revenue drop since IPO
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Rivian is anticipated to report its first quarterly revenue decline since its IPO, due to a parts shortage that led to a reduction in its 2024 production target.
November 06, 2024 | 11:00 am
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Rivian is likely to report its first quarterly revenue decline since its IPO, attributed to a parts shortage that has also led to a reduction in its 2024 production target.
The anticipated revenue drop is significant as it marks the first decline since Rivian's IPO, indicating potential operational challenges. The parts shortage and reduced production target for 2024 suggest ongoing supply chain issues, which could negatively impact investor sentiment and short-term stock performance.
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