Rivian Stock Plunges After Brutal Q2 Earnings and Weak Outlook
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Rivian Automotive's stock fell over 3% following disappointing Q2 earnings, reporting a loss of $0.97 per share, missing expectations by $0.32, despite revenue of $1.30 billion exceeding forecasts. The company's aggressive cash burn and negative margins have raised investor concerns. Analyst price targets range from $12 to $18, with a consensus around $14.30. Insider selling by executives has also pressured the stock, highlighting challenges in achieving growth and profitability in the competitive EV market.
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