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Rivian’s Financial Disaster

Curlyrnd / Wikimedia Commons Rivian Automotive Inc. (NASDAQ: RIVN) posted another quarter that shows how little progress it has made in the electric vehicle (EV) sector. Management pointed out that revenue rose 78% to 1.56billion.Itismoreinstructivetolookatthepreviousquarter(June),inwhichrevenuewas1.56 billion. It is more instructive to look at the previous quarter (June), in which revenue was 1.3 billion. Most EV makers had a sales surge because people rushed to take advantage of the $7,500 tax credit before it ended. That did not happen to Rivian. Quick Read Rivian Automotive I ...