What's Going On With Rivian Stock?

Rivian Automotive Inc RIVN shares are trading lower by 10.7% to $10.23 Friday after UBS downgraded the stock from Buy to Sell and lowered its price target from $24 to $8. The stock is also lower on downward momentum after the company this week reported mixed fourth-quarter financial results and announced a roughly 10% reduction in its salaried workforce.

Rivian exceeded revenue expectations in the fourth quarter with $1.32 billion, surpassing the estimated $1.26 billion. However, the company reported a loss of $1.36 per share, slightly worse than the expected loss of $1.32 per share.

In terms of production and delivery, Rivian produced 17,541 vehicles and delivered 13,972 vehicles in the fourth-quarter. For the fiscal year 2023, the company produced 57,232 vehicles and delivered 50,122 vehicles…Read More

Should I Sell My RIVN Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of Rivian Automotive have lost 40.73% year to date. This compares to the average annual return of -51.56%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Rivian Automotive stock currently has an RSI of 9.26, indicating oversold conditions.

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RIVN has a 52-week high of $28.06 and a 52-week low of $10.12.