Rivian is making good progress, and reaching gross margin and operating cash flow positivity were big milestones. The next big step for it will be getting its R2 SUV to market. The company expects it to have a base price of around $45,000, which should give it much more mass appeal than the R1S SUV, which starts at just under $76,000.

Rivian (RIVN) shares hit a new yearly low on Monday, dropping nearly 10%. Despite achieving its first gross profit

Rivian is making progress on improving its autonomous vehicle technology. It also sees interest in its RCV to electrify fleets beyond Amazon delivery trucks. Rivian is carrying momentum into the new year from several sources.

What Happened? Shares of electric vehicle manufacturer Rivian (NASDAQ:RIVN) fell 7.3% in the afternoon session after Bank of America analysts downgraded the stock's rating from Hold to Sell and cut the target price from $13 to $10.