Rivian Stock Could Plunge 23%: Analyst Warns of Gloomy EV Demand Ahead
Rivian shares fell 18% from late September highs, closing near $13 on Oct. 20. Mizuho downgraded the stock to “Underperform” with a $10 target, citing slowing EV demand and expiring U.S. incentives. Q3 deliveries beat estimates at 13,201 vehicles, but full-year guidance narrowed. Expired tax credits and new tariffs have raised costs and pressured demand.