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Stock impact report

Why Is Wall Street So Bearish on Rivian? There's 1 Key Reason. [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
10 stocks we like better than Rivian Automotive › The average price target from Wall Street analysts for Rivian Automotive (NASDAQ: RIVN) stock is just $14.72. That implies just 5% in potential upside over the next 12 months. One analyst even downgraded the stock to a "sell," predicting 50% in potential downside Why is Wall Street so bearish? There's one obvious cause. It's not a good time to be an electric car stock . The U.S. government is preparing to eliminate several key subsidies. The electric vehicle (EV) buyer tax credit -- which can effectively reduce the cost of buying an EV by as much as $7,500 -- is set to expire in September. Federal automotive regulatory credits, which have provided the industry with hundreds of millions of extra profit, will also cease to be of any value this year since penalties for non-compliance will be eliminated. Rivian's new mass market vehicles -- the R2, R3, and R3X -- were all expected to qualify for federal tax credits. The company al Show less Read more
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