Shares of Rivian Automotive Inc.
fell 0.8% toward a third-straight loss in premarket trading Monday, after Tesla Inc.’s TSLA first Cybertruck was rolled off the assembly line over the weekend. Rivian’s stock has shed 4.2% over the past two sessions, after closing July 12 at a seven-month high. “We see competitive pricing and specs for the Cybertruck as a fundamental and headline risk to [Rivian],” wrote Baird analyst Ben Kallo in a note to clients.
fell 0.8% toward a third-straight loss in premarket trading Monday, after Tesla Inc.’s TSLA first Cybertruck was rolled off the assembly line over the weekend. Rivian’s stock has shed 4.2% over the past two sessions, after closing July 12 at a seven-month high. “We see competitive pricing and specs for the Cybertruck as a fundamental and headline risk to [Rivian],” wrote Baird analyst Ben Kallo in a note to clients.