Rivian Automotive-Why Rivian (RIVN) stock is crashing

Electric vehicle manufacturer Rivian’s (NASDAQ: RIVN) share price is recording losses following the company’s release of new production guidance for 2024.Rivian has faced sustained weakness, struggling to establish a foothold above the $10 support level. Over the past month, the stock has corrected by 22%, while its weekly chart reflects an almost 10% drop. The downward trend extended into the October 4 trading session, where RIVN was valued at$ 10.28 as of press time, marking a 4.6% drop in the past 24 hou ...