RIVN: Supply Shortage Impacts Stock

Rivian Automotive (RIVN, Financial) shares experienced a significant drop, with the stock falling by 7.05% following the company's announcement of revisions to its vehicle production forecasts due to part supply shortages. This adjustment affected both consumer R1 models and commercial delivery vans, though the decrease is not attributed to a lack of demand.Rivian announced a revised production forecast of 47,000 to 49,000 electric vehicles (EVs) for the year, down from the previous estimate of 57,000 units ...