Shares of Rivian Automotive Inc. sank greater than 7% in after-hours buying and selling Tuesday after the electric-vehicle maker narrowed its quarterly loss however missed income expectations and revealed struggles with components shortages and different manufacturing hiccups because it tried to ramp up manufacturing.
Supply-chain issues proceed to be “the main limiting factor of our production” and prices round expediting components additionally took a toll, Rivian RIVN executives stated in a letter to shareholders.
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Source web site: www.marketwatch.com
