5 Stocks Getting Crushed on Tuesday

2. Rivian Automotive, Inc. (NASDAQ:RIVN) has slid 7.76% as of 12:13 PM ET after the target price of the Irvine, California-based EV company was slashed from $42 to $38 with an Equal Weight rating at Barclays. The analyst highlighted risks related to ramping production and little valuation support for Rivian Automotive, Inc. (NASDAQ:RIVN). During Q1 2022, Rivian Automotive, Inc. (NASDAQ:RIVN) revealed that it produced 2,553 vehicles and delivered 1,227 units, compared to Barclay’s forecast of 1,800 units.

As of Q4 2021, 47 hedge funds held a stake in Rivian Automotive, Inc. (NASDAQ:RIVN).