By Kuldip K. Ambastha
Rivian Automotive, Inc. (RIVN), an American electric vehicle and automotive technology company, was founded in 2009 and went public in 2021. The company’s stock has been volatile since going public, delivering many negative and positive return swings from one trading day to the next. Over the course of the past trading week, a +10.7% gain was seen for the trading day of Thursday, February 24, 2022. On that day, Rivian leadership stated the company was making positive steps towards increasing its electric vehicle production. The company has set an objective of having a 10% stake of the electric vehicle market by 2030.
Rivian has an assembly plant in Normal, Illinois which was shut down for the first 10 days of January 2022, to implement changes to the production line process. These changes have led to increased electric vehicle output, despite constraints when it comes to acquiring semiconductor chips through a troubled global supply chain. Wall Street cheered Rivian on Thursday, February 24, 2022, though skeptics have continued to warn that Rivian may still take many years to become a dominant company in the fiercely competitive electric vehicle production space.
Keywords – Rivian Automotive, Inc., Rivian Automotive, Rivian, RIVN, electric vehicle, EV, automotive, auto, technology, tech, production, semiconductor chip, supply chain, Wall Street.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in RIVN.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2022 – Ambastha Financial LLC.
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