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Money: As many e-cars ran 2021 at the Tesla rivian Rivian from the band

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The car manufacturer Rivian has just missed its desired production target for 2021. In addition, the company announced personnel changes.

DANIEL ROLAND/AFP/Getty Images © Provided by Daniel Roland / AFP / Getty Images

• Car maker Rivian missed his production target for 2021

• By the end of 2021, the company has delivered 920 vehicles

• Rivian stock is no longer considered "high-flying stock"

The carmaker Rivian Automotive Inc supported by Amazon has not achieved its production target for 2021. The manufacturer of electrical powered Pickup Trucks is considered rival from Tesla and had already had to correct its forecasts for 2021 due to delivery bottlenecks last month.

Rivian Share After Volatile History Fixed: Surprising resignation of COO

 Rivian Share After Volatile History Fixed: Surprising resignation of COO The electric car startup Rivian is further in turbulence. An important leadership throws the towel, the timing is conceivably unfavorable. The stock reacts. © Provided by Daniel Roland / AFP / Getty Images • Rivian loses COO • Departure planned • Notwithden in the middle of production hood Rod Copes, since 2020 Chief Operating Officer at the Stock Exchange Rivian , has that Exit electric car startup.

companies missed production target

The company reported in December that it is assuming to produce a few hundred vehicles less and do not reach the target for 2021. The production target for 2021 was originally with 1,200 vehicles. In fact, 1,015 vehicles were produced according to the Group. In a communication of the company, the number of vehicles delivered by the end of 2021 was given at 920. The car manufacturer also recently announced the resignation of Rod Copes as Chief Operating Officer . In order to continue to enable continuity in the team for the upcoming production performance, the resignation of COPES already began a few months earlier and was gradually completed as the company announced in a position name by e-mail. The obligations of the former manager were transferred to the management team of the company.

Value of the Rivian Share drops

The Rivian Share traded on the NASDAQ dropped in response to the message to the precisely missed production target by 5.6 percent to 81.44 dollars. At the beginning of the year, the value of the stock was $ 75.13 and thus for the first time below the issue price at stock market launch in November of $ 78. Previously, the Rivian share was considered the "high-flying floor". With this term, high-priced and speculative shares are referred to whose courses can decrease or increase within a short period.

M. Wieser / Editorial

Wall Street’s volatility streak continues as stocks close lower .
Investors are juggling upbeat economic news with mixed corporate earnings, geopolitical unrest and a hawkish US Fed.The Dow Jones Industrial Average fell 7.31 points, or 0.02 percent, to close at 34,160.78. The S&P 500 lost 23.42 points, or 0.54 percent, to end the session at 4,326.51 and the tech-heavy Nasdaq Composite Index dropped 189.34 points, or 1.4 percent, to 13,352.78.

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