Rivian Stock Has Another 20% Downside, According to 1 Wall Street Analyst

Rivian Automotive (RIVN 6.26%) failed to impress investors hoping to hear about a surge in production and sales for the EV maker in 2024. In fact, Rivian told investors in its recent fourth-quarter and full-year report that it doesn't expect any growth at all in 2024.That led UBS analyst Joseph Spak to double downgrade the stock from buy to sell last Friday. Spak also slashed his firm's price target from 24toaWallStreetlow24 to a Wall Street-low 8 per share. That would represent a 66% drop in the target price and a more th ...