Last year has been challenging for Rivian Automotive, Inc. (RIVN) as it grappled with supply chain disruptions, escalating costs, production delays, and mounting losses.
Nevertheless, RIVN garnered investors’ attention this year with its robust production figures for the second quarter. Moreover, it started delivering to Europe the electric vans it makes for Amazon.com, Inc. (AMZN) and reiterated its plan to build 50,000 electric cars within the calendar year. This fuelled a strong rally in the stock, with an increase of 61.2% observed over the past month.
