Rivian stock has 50% upside from here: Needham analyst

Rivian Automotive Inc (NASDAQ: RIVN) has lost nearly 40% over the past month but a Needham analyst is convinced a sharp rebound is on the cards.Rivian stock could climb to $22Copy link to sectionChris Pierce lowered his estimate for full-year deliveries this morning to about 70,000 units. The analyst also expects the related hit to gross margin to push the capital requirement up to $6.0 billion versus his previous forecast for $5.5 billion. That’s after Rivian reported a 10% decline in deliveries for the fi ...