Posted 10/4/2023, 10:45:24 PM
Rivian Stock Drops as $1.5B Debt Deal Raises Dilution Fears Despite Maintaining Production Targets
- Rivian stock dropped after announcing plans to issue $1.5B in convertible debt
- Rivian expects $1.29B-$1.33B in revenue for Q3 2022
- The debt issuance could dilute current shareholders' interests
- Rivian maintained its 2022 production guidance of 52,000 EVs despite investor disappointment
- Rivian struggles with supply chain issues since its 2021 IPO as it tries to compete with Tesla
