Rivian Automotive Hits Day Low of $12.99 Amid Price Pressure

Rivian Automotive, Inc. experienced a notable decline today, with the stock dropping by 5.25% and reaching an intraday low of USD 12.99. This performance contrasts with the S&P 500, which remained unchanged at 0.0% for the day. Over the past week, Rivian's stock has decreased by 0.76%, while the S&P 500 has gained 2.85%.
In the month leading up to this decline, Rivian's stock has seen a more significant drop of 11.51%, compared to the S&P 500's increase of 3.44%. Despite these recent challenges, Rivian has shown a year-over-year performance of 25.02%, outperforming the S&P 500's 18.13%. However, the year-to-date performance reflects a decline of 2.33%, while the S&P 500 has risen by 17.15%.

Rivian's financial metrics indicate a complex situation, with a negative EBITDA and a return on equity of -57.30%. Additionally, promoter confidence appears to be waning, as stakeholders have reduced their holdings by 1.53% in the last quarter. The company's market capitalization stands at USD 16,976 million, positioning it within the mid-cap segment of the automobile industry.