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Rivian Automotive reported a wider-than-expected loss for 1Q24 due to high production expenses.
Despite the loss, the company saw an 82.1% increase in sales year-over-year.
The company's valuation is now up to 80% of its cash value, making it an attractive investment despite the lack of growth.
Rivian Automotive Inc. ( RIVN ) released its quarterly earnings on May 7, 2024 and reported a wider-than-anticipated loss for 1Q24 amid an underwhelming production ramp....