Wall Street was disappointed with Rivian's first-quarter 2024 results, but not much has changed from a business perspective.
Rivian reiterated its goal of becoming gross-profit-margin-positive in Q4 this year.
There are at least two good reasons to worry about Rivian's falling stock price.
One Wall Street analyst sees a plan that could help Rivian become a long-term winner.
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While both Rivian and Lucid Motors went public in 2021, they have since pursued different strategic paths - and the divergence grew even starker following their Q1 2024 earnings releases.
R2 is too expensive even two years before launch.
Rivian is burning cash and may be years away from a significant recovery.
First-quarter results were mostly as expected, but the EV maker needs to change the narrative.
Rivian is running out of money faster than expected.
Whether it's smartphones or soy lattes, consumers are pickier right now. The companies that are keeping things convenient and creating value offerings are winning; the ones that aren't are struggling.