Tesla rival Rivian's stock sinks 13% after the EV maker's output forecast comes in well below expectations

• Rivian shares tumbled more than 13% as the EV maker's 2023 output forecast missed expectations. 
• The Tesla rival warned of more supply-chain constraints in its Q4 and full-year earnings report.
• Deliveries last year came in well below production, which was just below its target.

Tesla rival Rivian's stock price sank after its 2023 production forecast came in well below expectations and it issued its third recall in 16 months.

The electric-vehicle maker's shares were down 13.2% at $16.76 at last check in early trading Wednesday, after it warned that supply-chain bottlenecks would continue to hinder its output this year.