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Why Rivian Automotive Stock Dropped Today

·3 min read
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Mizuho cut its prediction for Rivian's stock price, one year out, from $80 per share to just $70, and as of 1:20 p.m. ET, the shares are down 4.2% in response. As Mizuho points out, though, the impact of parts shortages isn't limited to Tesla but is affecting Rivian as well. Mizuho estimates that Rivian was able to build and deliver electric trucks at the rate of about 400 per month in the first quarter of 2022.