Shares hit fresh lows after management raise funds. Rivian is now well-capitalized and trending toward profitability. It’s looking like a long-term low might soon be put in. A 12% drop on Tuesday was the last thing investors of electric vehicle (EV) maker Rivian Automotive Inc (NASDAQ: RIVN ) were expecting. Despite having already sunk more than 50% since last quarter, they would have been hoping the stock was set to start recovering rather than falling to fresh lows. After all, MarketBeat has written extensively about the recovery rallies across beaten-down tech stocks. But Tuesday’s drop has paid for that, for now at least. The catalyst for the fresh all-time low was the news on Thursday evening that the company had announced plans to raise a fresh $1.3 billion. Management has been spooked by the drop in demand for EVs in recent weeks, and they’re not alone in this. But investors have worried today that Rivian felt they needed to raise even more right now, having closed off 2022 with more than $12 billion in cash. It feels panicky, though, and begs the question of just how grim management’s outlook has become. Details Emerge They’re proposing a private offering of […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
