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Daily Poll: Battery issue drains Rivian stock.
A recent $Amazon (AMZN.US)$ test of a $Rivian Automotive (RIVN.US)$ electric van showed that the battery's performance is below the EV startup's claims.
According to the report, the battery drained 40% faster than usual if the van's heating or cooling was on. Rivian said in its prospectus that the all-electric delivery vans would have a range between 120 miles and 150 miles, depending on size.
Rivian shares fell 8.2% to 118.11 on Monday. RIVN stock rose 67% in the first few days after its IPO, to 129.95. But shares closed down 1% last week after a wild ride.
Among other EV stocks, China-based $XPeng (XPEV.US)$ edged up 1.1% after briefing reclaiming a buy range intraday. $NIO Inc (NIO.US)$ surged 7.3%, while $Li Auto (LI.US)$ advanced 1.9%.
Among U.S. automakers, $Lucid Group (LCID.US)$ reversed opening gains and dropped 8.2%, $General Motors (GM.US)$ rose 3.7% and Ford (F) was up 5.4%. U.S.-traded shares of Germany's $VOLKSWAGEN A G (VWAGY.US)$ dipped 0.4%.
Among U.S. automakers, $Lucid Group (LCID.US)$ reversed opening gains and dropped 8.2%, $General Motors (GM.US)$ rose 3.7% and Ford (F) was up 5.4%. U.S.-traded shares of Germany's $VOLKSWAGEN A G (VWAGY.US)$ dipped 0.4%.
It seems that there are formidable enemies everywhere.
Do you think RIVN is ready to compete in the EV battlefield?
Do you think RIVN is ready to compete in the EV battlefield?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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PlsLetMeEarnMoney : isn't rivian just pump and dump. just like nikola
gas 1126 : I heard that he is looking for a battery supplier in China
71780680 : for one it was. running because of Amazon. let it settle, to early to invest for me
justatradrrrr : Thank god I Sold
Mikey_Vibez : Rivian or Every Other EV Stock?