Is Rivian Stock A Buy With The CEO Selling And The EV Startup Cutting 2024 Guidance?

Rivian Automotive shares have plummeted 55% in 2024 as the EV startup is looking to challenge Tesla, Ford, General Motors and other autos with its adventure-styled electric vehicles. The startup saw third-quarter vehicle deliveries come in below forecasts and Rivian lowered its full-year production guidance early Friday amid an ongoing "component shortage" in its vehicle production. Analyst consensus had Rivian third-quarter deliveries totaling around 12,670 units, according to FactSet.