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Rivian sold Wall Street on an electric SUV. Then reality hit.

Posted by Soo Youn on Saturday, May 21, 2022, In : 848FINACE 



After buying stock in Rivian — the electric vehicle maker that promised a hotly anticipated SUV or truck version of a Tesla — at $72 a share, San Francisco tech program manager Carter Gibson wasn’t thrilled when the price dropped to an all-time low of $19.25 this past week.

A Wall Street darling, backed by Ford and Amazon, the latter of which placed an order for 100,000 electric delivery trucks, Rivian Automotive Inc. had the biggest IPO of 2021. The company was valued at more than Gener...


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