Rivian Faces Tough Questions It Doesn't Want To Answer - NewsBreak

Things are moving ahead quickly for Rivian. Late last summer, the EV automaker backed by Ford and Amazon revealed plans to go public in a traditional IPO instead of a SPAC. Some analysts pegged the carmaker's value as high as $80 billion. However, the paperwork it filed with the Securities and Exchange Commission revealed a nearly $1 billion loss in the first half of this year. In 2020, Rivian suffered a $1.02 billion net loss. The good news is that production of the Rivian R1T is underway and the truck is absolutely incredible. It is the segment breakthrough we've been waiting for. But there's now another issue Rivian must contend with ahead of its big day on the NASDAQ.