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RIVN stock down 17% this week. Why?

dp351

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As of this writing RIVN is down 6.5% today, to cap off a terrible week where it’s lost 17% of its value, with another hour to go.

NASDAQ is down about 4% this week, and Tesla, with all of its drama, is down about 10% this week.

There’s been no big news about Rivian this week that I’m aware of. But I must be missing something. A quick Internet search only reveals others asking the same question - why is RIVN getting beaten down so bad?
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DaveA

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Most EV stocks are down...not just limited to Rivian.
 

jjswan33

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I was wondering the same today but not about the whole week but just today. I like to compare RIVN to Tesla and Lucid

Rivian R1T R1S RIVN stock down 17% this week. Why? 1668803366977


When you compare you can see that for the 5d up until today they all track together, so it is most likely market/industry specific but today you can see that RIVN is getting hit harder but no specific news as far as I can tell.
 

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NY_Rob

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Maybe Wall St hates Rivian because so many large/important investors got burnt investing in Rivian as a result of the (possibly) fraudulent IPO?
 

Batman

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I'm waiting to buy at $25.....It was $28 like 3wks ago.....
 

Count Orlok

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meanwhile, PSNY was up 6% during the same period.
 

Count Orlok

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the CFO has been selling...
 

Count Orlok

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FWIW, I still have my initial shares from the IPO (ouch) but have picked up 1,500 additional shares (ACB $28.03) and plan to buy more. No exit stratgey until the fourth birthday for my LE preorder.
 

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crashmtb

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RJ Scaringe combed his hair the other direction this week, the market noticed and didn’t like it.
 

Batman

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Here comes that $25 :), ready to avg down my $50 :facepalm:
 

NY_Rob

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RJ must have combed his hair back the other direction... 😞
 

jclicky

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All stocks are down during the holidays, plus the street is full of morons, they’re not interested in long-term bets or cars that are made well, just short-term quarterly returns.
 

moosehead

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Combination risk-off, continually tightening Fed to 5% fed funds target, and crabs.
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