When Rivian Automotive debuted on the Nasdaq in November 2021, the electric vehicle startup was hailed as a generational disruptor, drawing comparisons to Tesla and attracting backing from giants like Amazon and Ford.
Its stock soared to nearly $180 in the days after its initial public offering.
Now, less than four years later, the company’s shares are trading around $17 — a 90% decline that has rattled retail and institutional investors alike and raised a pressing question: What exactly should investors do with Rivian at this price?
From Peak to Plunge
Rivian’s journey has been emblematic of the post-pandemic boom-and-bust cycle in tech and clean energy.
In 2021, it promised innovation at scale — an all-electric pickup and SUV lineup, cutting-edge technology, and a lucrative deal to supply Amazon with 100,000 electric delivery vans.
But as of mid-2025, many of those promises remain only partially fulfilled. Production setbacks, macroeconomic headwinds, and surging competition have weighed heavily on the EV maker’s performance.
“Rivian’s value proposition remains strong on paper,” said Ellen Patel, an auto industry analyst with Apex Strategy Group. “But in practice, execution has lagged behind expectations.”
A Cash-Intensive Business Model
Rivian’s financials paint a challenging picture. Despite reducing its net losses compared to 2023, the company continues to burn through cash at a rapid clip.
In its most recent earnings report, Rivian reported around $6.5 billion in liquidity, down from over $8 billion the year prior. It’s a healthy cushion — for now — but profitability still appears years away.
The company delivered about 50,000 vehicles in 2024 — far behind legacy automakers and a fraction of Tesla’s output.
Manufacturing at scale has proven difficult, and the company’s Georgia factory, meant to produce its more affordable R2 platform, is still under development.
“They’ve done a good job building a brand, but this is a business that requires relentless capital and flawless logistics,” said Patel.
Competitive Pressures Are Growing
The electric vehicle space has become more crowded — and more unforgiving. Ford and General Motors have accelerated their EV programs, while startups like Lucid and Fisker are also competing for market share.
Tesla, meanwhile, remains the category leader by a wide margin.
Rivian’s edge lies in its design and branding. Its R1T truck and R1S SUV have been well received by consumers and critics alike.
Its vehicles are marketed to adventure-oriented drivers — a niche with potential but limited volume.
The Amazon van deal, once seen as a transformational anchor for the company, has also lost some of its shine amid rumors of renegotiated timelines and shifting delivery targets.
So, What Should Investors Do?
At $17, Rivian’s stock offers a polarizing proposition: a high-risk bet on a long-term EV future — or a warning sign of what happens when hype exceeds execution.
Buy, if you believe in the long game
For investors willing to take on risk and wait several years for a turnaround, Rivian could be a value play. Its current market cap hovers around $16 billion — a far cry from its post-IPO valuation, but still indicative of belief in its long-term potential.
Key factors in its favor:
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A growing EV market
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Strong design and brand recognition
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Exclusive access to Amazon’s delivery fleet contract
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Control over its technology stack, including software and battery systems
Hold, if you’re already in deep
Investors who bought in at higher prices may see little upside in selling now. The company is still executing on a vision — albeit slowly. Holding through volatility might make sense for those who believe Rivian can reduce its cash burn and hit its production milestones.
Sell, if you’re wary of unprofitable growth
For those seeking earnings visibility, Rivian remains a speculative play. Its timeline to profitability is uncertain. Rising interest rates and competition could weigh further on its margins. A sell recommendation may be warranted for risk-averse investors.
What to Watch Next
If you’re considering buying or holding Rivian stock, pay attention to the following:
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Progress on the R2 platform, expected to be more affordable and scalable
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Updates on the Georgia production facility
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Delivery numbers for both consumer vehicles and Amazon vans
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Trends in gross margins and cash flow
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Broader shifts in the EV and clean energy sectors
Final Word
Rivian is no longer the shiny new IPO with limitless upside. It’s a company at a crossroads, facing down the challenges of scale, capital, and competition.
At $17, its stock reflects both the potential of its ambition and the risks of its unfinished story.
For investors, the decision is a test of conviction — in Rivian’s leadership, in its ability to execute, and in the continued growth of the electric vehicle market.