$Rivian Automotive, Inc.(RIVN)

Backlog was reported at 114,000 R1 vehicles in November 2022. Backlog seems empty now after about 71,000 vehicles were sold including an estimated 11,000 EDV. Why did sales of 60,000 R1 consume a 114,000 reported backlog plus all the orders since Rivian stopped reporting their backlog 14 months ago. Demand seems very weak and lower prices are needed to stoke demand but their costs appear to be too high to make a profit at lower prices. Seems like a recipe for a financial disaster.

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