March 22, 2023 10:37 am ET
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Rivian Automotive stock has been trading far worse than most of its peers. Sales and products aren’t the problem. It’s spending. The company needs a plan to control cash and improve investor sentiment. Wall Street has some advice.
Morgan Stanley analyst Adam Jonas pointed out in a report Wednesday that recent Rivian (ticker: RIVN) stock levels were trading below their cash value. Rivian ended the year with about $13 in cash a share and added another $1.40 in cash a share by selling bonds.