The company’s stock price has tumbled this week.
. Like other automakers, Rivian has had trouble securing the materials that are needed to manufacture lithium-ion batteries for its vehicles, in addition to the semiconductor chips needed to power many of its high-tech features.
Adam Jonas, an analyst for Morgan Stanley, noted that Rivian’s enterprise value, which is essentially its market capitalization minus less net cash, is “currently just above zero dollars.” This sends the message to investors that unless Rivian can get its supply chain under control, it may have to dilute shareholders.
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