Why Is Rivian Stock So Low, and Can Rate Cuts Push RIVN Higher?

While Rivian (RIVN) stock has come off its record lows, it is still down about 50% for the year, and trades below $12 per share, with a market cap of less than $12 billion. When the startup electric vehicle (EV) company went public in late 2021, its shares were priced at $78. Within a week, RIVN shares set an intraday high of $179.47, which gave the company a market cap in excess of $150 billion.

Rivian raised $12 billion from its mammoth IPO, which was the biggest on Wall Street since Facebook, now known as Meta Platforms (META). Cut to 2024, and RIVN trades at a fraction of its all-time highs. Why is Rivian stock so low, and can the Fed’s rate cuts help it recover - as higher interest rates were among the reasons RIVN stock plunged? We’ll discuss in this article.