Stock Track | Rivian Automotive Plummets 5.06% as Analyst Remains Bearish Despite Price Target Hike
Rivian Automotive Inc. saw its stock plummet by 5.06% in intraday trading on Tuesday, January 7th, 2025. Despite the significant drop, one Wall Street analyst remained resolutely bearish on the electric vehicle maker.Garrett Nelson, an analyst at CFRA, raised his price target for Rivian by 60% to $8 per share but maintained his "sell" recommendation. Even with the increased target, Nelson's valuation suggests a potential downside of 51% from the current stock price. His skepticism stems from c