Rivian Stock Plummets to Record Low Amid Production Concerns and Analyst Downgrades

Rivian faces a challenging road ahead with job cuts, production stagnation, and financial losses, despite optimistic views from some investors.

Rivian's stock hits an all-time low after disappointing Q4 results and a double downgrade by analysts, with shares now around $10.
The EV maker announced layoffs of 10% of its salaried workforce and expects lower vehicle deliveries in 2024 due to production adjustments.
Despite financial struggles, Rivian remains optimistic about future cost reductions and the launch of its more affordable R2 electric SUV in 2026.
Tesla investor Gary Black defends Rivian, highlighting its potential as a strong competitor in the EV market and its solid cash position.
Rivian and Lucid both report stagnant production numbers and face market challenges, with Rivian's shares down 40% over the past year.