Rivian Stock Chatter: What RIVN Investors Are Saying After Yesterday’s Crash

Rivian (NASDAQ:RIVN) stock continues to take a beating on Thursday as investors are still reeling from upsetting news earlier this week.

Rivian (RIVN Stock) car manufacturing plant. Rivian develops vehicles, products and services related to sustainable transportation.

Source: James Yarbrough / Shutterstock.com

The first thing that has investors in RIVN stock upset is increasing prices for the company’s upcoming electric vehicles (EV). Rivian attributes this to inflation but the roughly $17,000 increase in price wasn’t going over well with customers that pre-ordered EVs from the company.

However, RIVN is doing damage control after the outrage from customers. The company’s CEO revealed today that the price hikes will no longer go into effect for customers to pre-ordered before March 1.

While the price hike situation appears to be under control, RIVN stock still got hit with a couple of downgrades this week. Wells Fargo and RBC Capital analysts both hit the company’s shares with lowered price targets.

All of that news isn’t sitting well with investors, which resulted in the price of RIVN stock crashing yesterday. That downward movement is continuing today with shares slipping 5% as of this writing.

Let’s take a look at what traders are saying about RIVN stock as prices continue to fall today below!

Rivian Stock Twitter Talk

All of the news surrounding RIVN stock today has it experiencing heavy trading. As of this writing, more than 17.6 million shares of the company’s stock have changed hands. That’s above its daily average trading volume of around 17 million shares.

Investors looking for more stock market news from Thursday are in luck!

We’ve got the most recent stock market news that traders need to know about below! That includes what’s happening with Indonesia Energy Corp. (NYSEAMERICAN:INDO) stock, why Hexo (NASDAQ:HEXO) stock is on the rise, as well as the news boosting Canaan (NASDAQ:CAN) stock higher today. You can find all of this news at the following links!

More Stock Market News for Thursday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Article printed from InvestorPlace Media, https://investorplace.com/2022/03/rivian-stock-chatter-what-rivn-investors-are-saying-after-yesterdays-crash/.

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