UBS downgrades RIVN from Neutral to Sell with a $15 price target, claiming the recent gains are too optimistic around progress in AI and the upcoming R2 launch which is unlikely to meet expectations.
Rivian Automotive
RIVN
NASDAQ
IPO2021
about RIVN
Rivian is a U.S. electric vehicle manufacturer that designs, builds, and sells high-end adventure-oriented pickup trucks and SUVs for consumers, as well as commercial delivery vans for businesses.
| type | open | high | low |
market cap |
volume |
|---|---|---|---|---|---|
| stock | $14.62 | $15.22 | $14.55 | $18.5B | 18.02M |
| eps |
price to earnings |
price to sales |
operating margin |
profit margin |
yield |
| -$0.96 | n/a | 11.64 | -63.09% | -74.84% | 0% |
Why is Rivian doing anything with bicycles?
Build the dang R2 and R3.
enron_ceo
Rivian getting punished by increase in costs due to tariffs, causing a sharp decline in demand. Combined with high interest rates and diminished EV incentives it's hard to see a profitable path forward for electric vehicles.
That being said, please sell me an R3!