Rivian went public on Nov. 10, 2021, during a period of strong enthusiasm for electric-vehicle companies. Scaringe rang the Nasdaq opening bell from the automaker’s factory in Normal, Illinois, while Rivian vehicles were displayed outside the exchange in Times Square.
The broader EV excitement has since faded. Rivian’s stock has dropped nearly 30% this year alone. The article attributes the decline to a mix of internal and external factors, without specifying them.
Despite the downturn, Rivian remains one of the most promising EV makers to emerge in the early 2020s, the article says. Most of the company’s peers that went public around that time no longer exist.
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