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2022-03-03

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Rivian Stock Alert: 2 Big Reasons RIVN Shares Are Crashing Today

Shares ofRivian(NASDAQ:RIVN) are down over 10% today, trading closer to its 52-week low of $50. 2022 has been difficult for the electric vehicle (EV) maker, as it has lost more than 40% of its market

Rivian Stock Alert: 2 Big Reasons RIVN Shares Are Crashing Today

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Making matters worse, Rivian recently reported that it would increase the price for vehicles with a quad-motor and large battery pack by $12,000, with some outlets reporting an increase as high as $20,000for specific configurations. The affected vehicles include the R1T electric pickup truck and the R1S SUV. Furthermore, Rivian’s Chief Growth Officer, Jiten Behl, attributed the price hikes to “inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts (including semiconductor chips).”</p><p>RIVN Stock Crashes as Rivian Hikes EV Prices</p><p>Originally, the basic models of the R1T and R1S cost $67,500 and $70,000, respectively. At those prices, the vehicles included a large battery pack that could provide 315 miles of range and a quad-motor. Now, with the large battery pack and quad-motor included, the R1T starts at $79,500, while the R1S starts at $84,500. In addition, most customers who placed a reservation before the price hikes will not be immune from the higher prices. Customers whose vehicles are “already in production or will be soon” will be immune from the price hikes. However, it’s likely that most customers will experience the increased prices given Rivian’s slow production rate.</p><p>Unsurprisingly, Rivian customers were upset about the new prices and took to social media to voice their concerns. On a Rivian forum, one user commented:</p><blockquote>“My quoted price previously was $75,820 for an R1S and after going through the configurator to get the same vehicle it’s $92k. A 17k increase is not inflation — it means it wasn’t priced appropriately to begin with. Add-in the new ‘option’ for a dual motor which is positioned as a great new option but in reality it just means they are now charging you more for the quad motor which was previously the only option. This feels like a gigantic bait and switch.”</blockquote><p>Rivian Stock Price Target Lowered</p><p>Adding on to Rivian’s turbulent week are two downgrades by Wall Street analysts. Wells Fargo analyst Colin Langan reduced his price target from $110 to $70. Langan remains bullish on Rivian, but sees “near-term headwinds.” These headwinds include increased competition, rising interest rates, and difficult delivery expectations. The analyst believes Rivian will deliver 2,300 trucks during Q1, while the consensus lies at 4,000. Furthermore, RBC Capital analyst Joseph Spak lowered his price target to$116 from $165.</p></body></html>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rivian Stock Alert: 2 Big Reasons RIVN Shares Are Crashing Today</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRivian Stock Alert: 2 Big Reasons RIVN Shares Are Crashing Today\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-03 11:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/03/rivian-stock-alert-2-big-reasons-rivn-shares-are-crashing-today/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Rivian(NASDAQ:RIVN) are down over 10% today, trading closer to its 52-week low of $50. 2022 has been difficult for the electric vehicle (EV) maker, as it has lost more than 40% of its market...</p>\n\n<a href=\"https://investorplace.com/2022/03/rivian-stock-alert-2-big-reasons-rivn-shares-are-crashing-today/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://investorplace.com/2022/03/rivian-stock-alert-2-big-reasons-rivn-shares-are-crashing-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180194318","content_text":"Shares of Rivian(NASDAQ:RIVN) are down over 10% today, trading closer to its 52-week low of $50. 2022 has been difficult for the electric vehicle (EV) maker, as it has lost more than 40% of its market capitalization year-to-date. Making matters worse, Rivian recently reported that it would increase the price for vehicles with a quad-motor and large battery pack by $12,000, with some outlets reporting an increase as high as $20,000for specific configurations. The affected vehicles include the R1T electric pickup truck and the R1S SUV. Furthermore, Rivian’s Chief Growth Officer, Jiten Behl, attributed the price hikes to “inflationary pressure, increasing component costs, and unprecedented supply chain shortages and delays for parts (including semiconductor chips).”RIVN Stock Crashes as Rivian Hikes EV PricesOriginally, the basic models of the R1T and R1S cost $67,500 and $70,000, respectively. At those prices, the vehicles included a large battery pack that could provide 315 miles of range and a quad-motor. Now, with the large battery pack and quad-motor included, the R1T starts at $79,500, while the R1S starts at $84,500. In addition, most customers who placed a reservation before the price hikes will not be immune from the higher prices. Customers whose vehicles are “already in production or will be soon” will be immune from the price hikes. However, it’s likely that most customers will experience the increased prices given Rivian’s slow production rate.Unsurprisingly, Rivian customers were upset about the new prices and took to social media to voice their concerns. On a Rivian forum, one user commented:“My quoted price previously was $75,820 for an R1S and after going through the configurator to get the same vehicle it’s $92k. A 17k increase is not inflation — it means it wasn’t priced appropriately to begin with. Add-in the new ‘option’ for a dual motor which is positioned as a great new option but in reality it just means they are now charging you more for the quad motor which was previously the only option. This feels like a gigantic bait and switch.”Rivian Stock Price Target LoweredAdding on to Rivian’s turbulent week are two downgrades by Wall Street analysts. Wells Fargo analyst Colin Langan reduced his price target from $110 to $70. Langan remains bullish on Rivian, but sees “near-term headwinds.” These headwinds include increased competition, rising interest rates, and difficult delivery expectations. The analyst believes Rivian will deliver 2,300 trucks during Q1, while the consensus lies at 4,000. 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