This is my third seeing a Rivian in the wild so folks must be

[theking]

...buying it  :

[theking]

Here's a better stock photo than mine:

[Hung_Low]

Rivian is bleeding money worst than Hurricane Ian did to FL... stock value drop nearly 50% at end of 2022 2nd quarter.

Quarterly net lost up to $1.7billions from 2nd quarter of $580millions. The only reason they're still in business is because of their tied with Bezos (17% stake in company) and Amazon ordering up to 100,000 vehicles.

Those that have significant shares of Rivian saw major losses...
Amazon saw loss of $3.9billions
Ford saw loss of $5.4billions - sold some of their shares

This does not mean they will go bankrupt because the market is there... it's just that they can't meet production demand due to manufacturing issue and supply shortages. So far this year, they had only produced 7000 or so vehicles and hope to sell 25,000 by end of year.

If they can produced what they forecast, their stock will move up again... It's a risky investment for sure.

[Cali Guy]

Seen them about a handful of times, even saw Rivian chargers.

[theking]

Not good for a company that is struggling... :

Rivian recalling nearly all 13,000 of its vehicles over steering hazard

Amazon-backed Rivian on Friday recalled about 13,000 vehicles due to a possible loose fastener that could cause the driver to lose steering control.