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Can Rivian Stock Cross the Electric Vehicle Death Valley?
Rivian AutomotiveRivian Automotive(US:RIVN) Investor Place·2024-06-23 21:30

Rivian (NASDAQ:RIVN) has lost 54% of its value in 2024. There are increasing concerns it can’t survive. Rivian stock is now worth just a little over twice its 2023 sales, or 10.7billion.That’sstillbetterthanFordMotor(NYSE:F)orGeneralMotors(NYSE:GM),nowtradingatlessthanone−thirdtheirannualsales.FordandGMarealsoprofitable.Rivianisnot.Farfromit.Rivian’snetlossforthefirstquarter,10.7 billion. That’s still better than Ford Motor (NYSE:F) or General Motors (NYSE:GM), now trading at less than one-third their annual sales. Ford and GM are also profitable. Rivian is not. Far from it. Rivian’s net loss for the first quarter, 1.45 billion, was less than its $1.24 billion of revenue. Updates are expected at a June 27 ...