Rivian Automotive Inc (RIVN) had a rough start this morning, with the stock dropping by 1.47% in pre-market trading to $16.77. It seems like RIVN has been less bullish compared to other stocks in the past month, as indicated by its short-term technical score of 32, which is lower than 68% of stocks on the market. In the Auto Manufacturers industry, RIVN ranks higher than only 31% of stocks, which is not very promising.
Over the past month, Rivian Automotive Inc has experienced a significant decline of 19.45%. On September 28, the stock closed at $23.08, but it has since fallen as low as $16.72 and reached a high of $24.87. These fluctuations can make investors nervous.
Despite the recent struggles, analysts still have a positive outlook on RIVN. The average analyst recommendation for the stock is Strong Buy, and the average price target is $28.29. This suggests that analysts believe the stock has the potential to rebound and reach higher levels.
It’s important to keep in mind that investing in stocks can be a bumpy ride. Prices can fluctuate, and it’s not uncommon for stocks to experience periods of decline. However, it’s also important to do thorough research and consider expert opinions before making any investment decisions.
In conclusion, Rivian Automotive Inc has had a challenging time in the market recently, with the stock experiencing a decline and ranking lower than many other stocks in the industry. However, analysts remain optimistic about its future prospects. Investors should approach the stock market with caution and seek advice from professionals to make informed investment choices.
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