The stock of Rivian, the electric vehicle manufacturer, saw a sharp decline on Friday of 4.60 percent to 9.17 US dollars, falling for the first time below the important 10-dollar mark. This decline continued on Monday as the stock fell by another 7.78 percent to 8.42 dollars, a new all-time low for the company. This marks a significant drop for Rivian, which had already suffered considerable losses the day before and now could not reach the psychologically critical double-digit threshold anymore.

The downward movement was triggered by Ford's announcement to drastically reduce the prices for its electric pickup F-150 Lightning, allowing potential buyers to save up to $5,500. This development hits Rivian hard, as the company already charges higher prices for its competitor model R1T and has little room for margin reductions due to its precarious financial situation.

In 2023, Rivian Achieved Revenue of $4.4 Billion, Which Represents a Significant Increase from the Previous Year, However, the Company Recorded a Net Loss of $5.4 Billion. These Figures Highlight the Financial Challenges Faced by Rivian, Especially in an Increasingly Competitive Electric Vehicle Market, Where Major Manufacturers Like Tesla Have Repeatedly Cut Prices to Ward Off Competitors and Secure Market Share.