Shares of Rivian Automotive Inc. rebounded by 4.1% in morning trading on Monday, following a tumultuous week that saw the electric-vehicle maker's stock hit a record low of $10.07 on Friday. The company suffered its worst week since going public, with a 38.2% drop surpassing the previous record decline of 25.3%.

The recent selloff in Rivian's stock impacted high-profile corporate investors, with Amazon's investment losing $986.6 million last week alone. As Rivian's largest shareholder with a stake of 16.6% in the company, Amazon has seen approximately $2.05 billion shaved off the value of its investment year to date. Meanwhile, Ford, which once held an 11.4% stake in Rivian, disclosed a year ago that it had reduced its ownership to 1.15%.

Rivian's disappointing fourth-quarter earnings report revealed a wider-than-expected loss and a 2024 production outlook that fell short of forecasts. Truist's Jordan Levy downgraded the stock to hold, citing the effect of a planned manufacturing shutdown and the company's imminent capital needs as factors that could limit share growth.

Despite recent challenges, Rivian remains optimistic about its future prospects, reporting $9.4 billion in cash, cash equivalents, and short-term investments at the end of 2023. The company expects capital expenditures of $1.75 billion in 2024 for investments in production facilities and next-generation technologies.

While four out of the 28 analysts covering Rivian have downgraded the stock following the latest quarterly results, the majority of analysts remain bullish on the company. Rivian went public in November 2021 at a valuation of about $77 billion, but its current market capitalization stands at approximately $9.9 billion.