Rivian Automotive's stock recently saw a minor decline, reflecting a month-long loss. The company is looking to raise $1.25 billion through a new debt offering, aimed at addressing slumped vehicle deliveries. It also entered the e-bike market with a notable investment. Despite the presence of significant institutional backers like Amazon, Rivian's stock remains significantly lower than its post-IPO high, showcasing ongoing operational and financial challenges, alongside negative gross profits reported in recent earnings.
Rivian Automotive's stock price has seen a slight decline of 0.29% over the past five trading sessions, contributing to a one-month loss of 2.55%. Year-to-date, the stock has increased by 3.70%, but over the past year, it has declined by 1.29%.
Rivian plans to offer $1.25 billion in senior secure green notes due 2031 as vehicle deliveries fall. This funding will be used to redeem $1.25 billion in outstanding notes due in 2026.
The company made a significant entry into the e-bike market with a $111.13 million investment, although it faces challenges from tariffs upheld by President Trump, despite a temporary 90-day pause.
Rivian's IPO in November 2021 saw its stock peak at $180 in its first week, but it has since dropped over 89% from that point due to subsequent operating expenses and lower vehicle deliveries.
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