The stock traded 86% below its height after reporting revenue of 95 95 million and gross loss of 1. 1.6 billion for the quarter ended March 2022.
Is the value of its shares low?
It makes an amazing electric truck but it can't make enough of them to meet the demand Unless Raven delivers more than investors promised its shares are unlikely to rise
25,000 EVs of Rivian in 2022
Rivian's IPO predicts a 2022 production. Sadly, in March 2022, Raven said he would make half that amount - 25,000 EVs in 2022, according to CNBC.
On July 6 Raven reiterated the amount Rivian meanwhile produced 4,401 electric R1T pickups and R1S SUVs in the quarter and delivered 4467 vehicles to customers in the second quarter according to CNBC
To meet this 25,000 EV target, Rivian will.
Production needs to increase in the second half of 2022.
More specifically, after building 7,969 vehicles from last 2021, Rivian will need to build 214% more vehicles - 17,031 - which are left in 2022 to meet its target.