Rivian Automotive Inc‘s (NASDAQ:RIVN) stock is under serious pressure, sliding 38.32% year-to-date. The electric vehicle maker’s bumpy ride isn’t just on the road; it’s also on the charts, where the technical indicators paint a rather grim picture.
Chart created using Benzinga Pro
Currently trading at $13.07, Rivian’s share price is below its eight-, 20- and 50-day simple moving averages, signaling a strongly bearish trend. The recent dip of 24.86% in just one month suggests investors are far from convinced about Rivian’s short-term prospects.
Rivian Halts EV Van Production For Amazon
Adding fuel to the fire, Rivian’s production woes are making headlines again. The …
