Rivian Cuts Spending by $250 Million -- Here's What the New Guidance Means for Investors
Rivian surprised the market by slashing capital expenditure guidance.
Overview
Rivian Automotive (NASDAQ: RIVN) remains one of my favorite growth stocks on the market today. Many investors still value the company as an EV stock. In reality, however, I think the company should be valued as an AI stock.
That's because Rivian is attempting to transform its business to take maximum advantage of its biggest growth opportunities.
Details
Building electric vehicles can be a profitable business. Just look at what Tesla accomplished despite having a fairly limited lineup. But the future of transportation will look very different than today.
Source
Originally published at www.fool.com.
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