Still a buy
$Rivian Automotive (RIVN.US)$ declined after lower production forecast in 2022. Price is now lower than opening trade on IPO day. The company is saying that it will be falling short of its 2021 production target of 1200 by a few hundred vehicles due to supply constraints. Other automakers have also talked about supply chain issues in the past.
Analysts are still bullish on the stock. RBC and WedBush Securities have price targets of $165 and $130. Average PT is $135. This is a supply issue and clearly not a demand issue. And its affecting other automakers too. This pullback may be a good opportunity to buy.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moo Contributor
Follow me to get useful analysis, learn TA and make profitable trades.
Maximise profit 利润最大化
8449Followers
48Following
27KVisitors
Follow
Silverbat : All temporary obstructions have been over priced in its short term price action. The 2nd half growth rate of 2022 will be astonishing.
Evelynne : Wow futures are getting killed. Good luck to bulls tomorrow here.
Hummphry : My oh my futures just keep ripping lower.
Give me some green candles to add more puts to this