Rivian Automotive Inc. makes good on its promise to get to its first quarterly gross profit and blows past Wall Street estimates for its sales.

Shares of electric-vehicle maker Rivian Automotive are lower following a couple of recent Wall Street downgrades.

Key Takeaways Shares of electric vehicle startup Rivian fell sharply Monday after analysts from Bank of America downgraded the stock.The analysts said the EV maker faces an uncertain demand and regulatory environment.