Is Rivian (RIVN) at risk of losing its Nasdaq spot after steep stock sell-off?
EV startup Rivian’s (RIVN) stock price is down over 91% from its all-time high set shortly after going public on the Nasdaq exchange in 2021. With share prices falling, Rivian may be at risk of losing its spot in the Nasqaq 100 index.
Rivian stock sell-off
After going public in November 2021 with backing from Ford and Amazon, Rivian held the largest initial public offering (IPO) for an American company since Facebook in 2012.
Valued at over $100 billion after its debut, the hype pushed Rivian stock price to over $170 a share within a week. However, since then, Rivian’s stock has been stuck in what seems to be a never-ending downward spiral.
Despite ramping production from 1,000 EVs built by the end of 2021 to 24,337 last year, Rivian’s stock continued to sell off.
The Federal Reserve moving from easing the economy through the pandemic to suddenly fighting inflation resulted in interest rates rising at the fastest pace in over four decades.
Unprofitable growth companies, including EV stocks like Rivian, were among the hardest hit as investors fled for safer assets.
Rivian stock has plunged from an all-time high of over $172 per share to around $15 today, down 91%. According to JP Morgan Securities, it may be enough to lose its place in the Nasdaq 100.
Will Rivian stock lose its Nasdaq 100 place?
The Nasdaq 100 is a stock market index comprising the 100 largest nonfinancial companies listed on the exchange. Rivian joined the index this past December as part of its yearly rebalancing.
JP Morgan analyst Min Moon (via Automotive News) wrote in a note this week that the Nasdaq 100 generally removes the smallest member of the group if the company is weighted at less than 0.1% for two straight months.
Moon noted that Rivian was below the 0.1% mark as of April 28 and May 31, leading her to believe the EV maker will be kicked out of the index as early as this month (the third Friday in June).
According to Moon, Rivian can be replaced by ON Semiconductor, which is ranked as the top eligible company.
The news comes after bullish analyst Alexander Potter of Piper Sandler downgraded Rivian stock in April, dropping his price target from $63 a share to $15.
Electrek’s Take
Losing its placement in the Nasdaq would be another setback for Rivian. Although Rivian was one of the few EV makers to reaffirm its annual production goal of 50,000 after Q1, the market is what’s spooking investors.
With Rivian spending roughly twice as much to build each vehicle as it sells it for and interest rates rising, investors are hesitant to jump back in.
CEO RJ Scarinje says driving profit is equally essential to ramping production right now as the EV maker has implemented several cost-cutting measures.
Rivian says its second-generation models (R2), due in 2026, are designed to simplify production and improve margins.
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Lucid’s electric minivan can outsprint the Chevy Corvette Z06, and it has more interior space than a Ford Explorer. Is the Lucid Gravity really the “ultimate uncompromising SUV?”
Lucid Gravity SUV is faster than a Corvette Z06
Lucid’s electric SUV is impressive inside and out. The Gravity provides up to 450 miles of driving range, ultra-fast charging (200 miles in under 11 mins), and it even offers up to 120 cubic feet of cargo space. That’s more than the Ford Explorer (87.8 cu ft).
It’s also faster than most sports cars. The Grand Touring trim has up to 845 hp, good for a 0 to 60 mph sprint in just 3.4 seconds, but the Dream Edition takes it to another level.
Powered by dual electric motors, the Lucid Gravity Dream Edition boasts 1,070 hp. To see how Lucid’s minivan stacks up against the competition, Car and Driver nabbed one for testing.
On the test track, the Lucid’s minivan covered a quarter-mile in just 10.6 secs, beating a Chevrolet Corvette Z06 to 150 mph by nearly three seconds.
According to Car and Driver, the Gravity didn’t just impress in the quarter-mile, “it was a beast in every acceleration metric.” Lucid’s SUV hit 30 mph in 1.4 seconds, 70 mph in 3.7 secs, and topped 100 mph in just 5.9 seconds.
Dave Vanderwerp, the testing director who took the Gravity for a spin, said the electric SUV “gets a sort of second wave of thrust starting around 60 mph.”
With a quarter-mile of just 10.6 secs, Lucid’s Gravity is the fastest SUV they have ever tested, beating out the Rivian Tri-Motor Max (11.1 secs), BMW iX M60 (11.5 secs), and Mercedes-AMG EQE53 SUV.
Although the Rivian’s 850 hp R1S Tri-Motor beat the Gravity to 60 mph, Lucid’s SUV sprinted ahead in the quarter-mile, traveling nearly 20 mph faster.
It was also faster than gas-powered super SUVs, including the Lamborghini Urus Performante (11.2 secs) and Porsche Cayenne Turbo GT (11.2 secs). However, they have yet to test a Tesla Model X Plaid, so that could change the game.
In what it called the “1,000 hp mom missiles” drag race, Hagerty recently pitted the Gravity Dream Edition against the Audi RS Q8 Performance, Range Rover Sport SV, Porsche Macan Turbo Electric, Rivian R1S Quad, and Porsche Panamera Turbo S E-Hybrid.
The result was a three-way tie between Lucid’s Gravity, the Porsche Panamera Turbo, and Rivian R1S Quad hitting the quarter-mile in 10.5 seconds.
The Lucid Gravity is available to order starting at $94,900 in the US. Later this year, Lucid is launching the lower-priced Touring trim, priced from $79,900.
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Solar provided over 11% of total US electrical generation in May, while wind + solar produced over one-fifth, and the mix of all renewable energy sources generated nearly 30%, according to data just released by the US Energy Information Administration (EIA).
Solar continues to set new records
Solar continues to be the fastest-growing source of US electricity, according to EIA’s latest “Electric Power Monthly” report (with data through May 31, 2025), which the SUN DAY Campaign reviewed.
In May alone, electrical generation by utility-scale solar (>1-megawatt (MW)) increased by 33.3% year-over-year, while “estimated” small-scale (e.g., rooftop) solar PV increased by 8.9%. Combined, they grew by 26.4% and provided over 11% of US electrical output during the month.
For the first time ever, the mix of utility-scale and small-scale solar produced more electricity than wind: solar – 38,965 gigawatt-hours (GWh); wind – 36,907-GWh.
Moreover, utility-scale solar thermal and photovoltaic expanded by 39.8% while that from small-scale systems rose by 10.7% during the first five months of 2025 compared to the same period in 2024. The combination of utility-scale and small-scale solar increased by 31.1% and was nearly 8.4% of total US electrical generation for January to May – up from 6.6% a year earlier.
Solar-generated electricity easily surpassed the output of US hydropower plants (6.1%). Solar now produces more electricity than hydropower, biomass, and geothermal combined.
Wind is also on the rise in 2025
Wind produced 12.2% of US electricity in the first five months of 2025. Its output was 3.9% greater than the year before, almost double that produced by hydropower.
During the first five months of 2025, electrical generation by wind + utility-scale and small-scale solar provided 20.5% of the US total, up from 18.7% during the first five months of 2024. Solar + wind accounted for nearly 21.5% of US electrical output in May alone.
During the first five months of this year, wind and solar provided 26.2% more electricity than coal, and 15.4% more than US nuclear power plants. In May alone, the disparity increased further when solar + wind outproduced coal and nuclear power by 55.7% and 22.1%, respectively.
All renewables produced almost 30% in May
The mix of all renewables – wind, solar, hydropower, biomass, geothermal – produced 9.7% more electricity in January to May than they did a year ago (7.6% more in May alone) and provided 28.1% of total US electricity production compared to 26.5% 12 months earlier.
Electrical generation by all renewables in May alone provided 29.7% of total US electrical generation. Renewables’ share of electrical generation is now second only to that of natural gas, whose electrical output actually dropped by 5.9% during the month.
“Solar and wind continue to grow, set new records, and outproduce both coal and nuclear power,” said Ken Bossong, the SUN DAY Campaign’s executive director. “Consequently, the ongoing Republican assault against renewables is not only misguided and illogical but also a good example of shooting oneself in the foot.”
Read more: FERC: Solar + wind made up 96% of new US power generating capacity in first third of 2025
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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Environment
Podcast: Tesla’s disturbing earnings, self-driving challenge, solid state batteries, and more
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Tesla’s disturbing earnings, a new self-driving challenge, solid-state batteries, and more.
The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.
As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.
After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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Here are a few of the articles that we will discuss during the podcast:
Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET:
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