Rivian Automotive Shares Down 18% Since Quarterly Results
<p><a href='https://financialmodelingprep.com/financial-summary/RIVN'>Rivian Automotive, Inc. (NASDAQ:RIVN) </a>shares are down more than 18% since last Thursday following the company’s first quarterly update as a public company, with management indicating that it won’t meet production targets.</p>
<p>Q3 earnings results came in consistent with pre-announcements, with a significant increase in vehicle reservations, and supply chain and operational issues slowing down the company’s initial production ramp-up in the context of three vehicles being launched simultaneously. </p>
<p>And while the company’s ramp-up issues will result in fewer vehicles delivered in 2021, the analysts at Deutsche Bank believe that these problems are temporary in nature and have already been addressed.</p>

NASDAQ:RIVN