Rivian Stock Has Zero Upside, According to 1 Wall Street Analyst [Yahoo! Finance]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Yahoo! Finance
News that the company still plans to produce 57,000 electric trucks this year and is cutting its costs failed to alleviate investor worries about Rivian's dwindling cash balance, as well as its continued inability to earn a profit. One analyst who's particularly pessimistic about the stock is Wells Fargo 's Colin Langan. On Wednesday, Langan cut his 12-month price target on Rivian shares to just $10. Rivian stock closed not far from $10 on Wednesday. In other words, according to Langan at least, there's literally no upside to owning Rivian stock today. And there won't be for at least a year. Is Rivian stock a sell? What's got Langan so disappointed in Rivian? To begin with, analysts already weren't optimistic heading into the Q1 report, predicting the electric truck company would lose $1.17 per share. But Rivian managed to underperform even that estimate, reporting a $1.45-per-share loss. Sure, Rivian is cutting capital spending and taking other steps to slow its losses, but in
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RIVN
News
- Levi & Korsinsky Reminds Rivian Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 18, 2024 - RIVNAccesswire
- Rivian Automotive, Inc. Sued for Securities Law Violations - Investors Should Contact Levi & Korsinsky for More Information - RIVNAccesswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Rivian Automotive, Inc. of Class Action Lawsuit and Upcoming Deadlines – RIVNGlobeNewswire
- State of Sustainable Fleets: Industry Rises to Meet Peak Complexity with Unprecedented Innovation and Investment [Yahoo! Finance]Yahoo! Finance
- State of Sustainable Fleets: Industry Rises to Meet Peak Complexity with Unprecedented Innovation and Investment [Financial Post (Toronto, Ontario, Canada)]Financial Post
RIVN
Earnings
- 5/7/24 - Beat
RIVN
Sec Filings
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
- RIVN's page on the SEC website