Rivian Automotive Inc.’s Claire McDonough savored the stock market’s enthusiasm when she helped raise $13.7 billion in 2021’s biggest initial public offering. Suddenly, the electric-vehicle maker was more valuable than Ford Motor Co. or General Motors Co.
Now the first-time chief financial officer has to bend her own Wall Street experience to a new challenge: a 73% implosion in Rivian’s share price from its peak amid analysts’ downgrades, production snags, missed delivery targets and an embarrassing U-turn over pricing.
