Will Reaching Positive Gross Profit Be Enough to Turn Rivian Stock Around?
After its stock collapsed 38% in a single week to an all-time low, investors are rightly concerned about the future prospects of pure-play electric vehicle (EV) maker Rivian Automotive (RIVN 4.11%). The stock is now down 57% year to date. And yet, Rivian is still a large company, with a market cap of $9.4 billion.The company's profitability is the most significant catalyst for Rivian rebounding or falling further. Rivian continues to spend billions of dollars annually, rapidly shrinking its cash position.Ho ...