Electric vehicle manufacturer Rivian Automotive, Inc. (RIVN) designs and develops five-passenger pickup trucks and sports utility vehicles. The automaker’s flagship products, R1T and R1S, have been witnessing robust demand. As of May 9, 2022, RIVN received over 90K net R1 preorders from consumers in the United States and Canada.
However, lost production time due to supply chain constraints and semiconductor chip shortages could threaten the growth of the EV maker. Its shares have declined 37.7% over the past three months and 74.7% year-to-date. The stock is trading 85.4% below its 52-week high of $179.47, indicating bearishness.
