2024-02-22 14:15:10 ET
Summary
- Rivian Automotive, Inc. beat sales estimates, but disappointed with its production forecast for 2024, leading to a 15% stock price drop.
- The weak outlook raises questions about the demand for electric vehicles and may impact Rivian Automotive's valuation.
- Despite the disappointing forecast, Rivian Automotive has a strong balance sheet and sufficient liquidity to operate without tapping into capital markets.
Rivian Automotive, Inc. ( RIVN ) released quarterly earnings for its fourth quarter yesterday, and though the electric vehicle ("EV") company beat sales estimates, the production forecast for 2024 was a huge disappointment....
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Rivian Automotive Q4: Guidance Is A Shocker