Rivian (RIVN) stock price has continued to underperform the market this year after the company lowered its guidance. It has crashed by 56% in 2024, while other EV companies have pared back their earlier losses. This retreat has brought its market cap to over $10 billion. Rivian has underperformed other EV companies like Lucid, XPeng, Nio, and Tesla, as shown below. Rivian is facing headwindsRivian’s downfall has been severe, especially for a company that was once valued at over $100 billion. At the time, most investors expected it to mirror Tesla’s growth since it focuses on the SUV segment, w…