Amazon In Talks With Rivian To Renegotiate Agreement For 100,000 Electric Vans
https://www.investors.com/news/technology/rivn-stock-rivian-renegotiates-deal-with-amzn/?src=A00220
Rivian stock tumbled 16% on March 1. That happened after it reported mixed fourth-quarter results the day before.
The company also has lowered production estimates. Rivian already has been in cost-cutting mode to improve its competitive standing among electric-vehicle makers.
Rivian said the supply chain “continues to be the main limiting factor” of production. During the quarter it encountered “multiple days of lost production due to supplier shortages,” the company said.
RIVN stock is down 22% this year.
My note: $RIVN hit its All-Time Low just yesterday:
I am liking this $AMZN setup. This one I’d buy calls for if we break out.
