"Shares of Rivian Automotive Inc. ( NASDAQ: RIVN) are changing hands for 10.0% more than a week ago, outperforming the Nasdaq. The electric vehicle (EV) maker just broke ground on its new $5 billion manufacturing plant in Georgia and has begun upgrading its plant in Illinois. And there has been speculation that it may unveil an electric bike in the near future. The share price is 30.4% higher than a year ago."
"Shares of EV manufacturer Rivian have been on a rollercoaster this year, surging and then falling after its first-quarter report. They have recovered somewhat since the second-quarter report. In the latest results, revenue was up slightly year over year and sequentially to $1.3 billion. However, the company also posted a wider-than-expected loss and widened its full-year loss projection due to tariffs and the loss of EV tax credits."
Rivian's shares are trading higher week-over-week and are about 30.4% above year-ago levels after breaking ground on a $5 billion Georgia plant and upgrading its Illinois facility. Revenue rose slightly year over year and sequentially to $1.3 billion, but the company recorded a wider-than-expected loss and raised its full-year loss projection because of tariffs and the loss of EV tax credits, producing a roughly 90% decline from its November 2021 IPO peak. Q2 deliveries fell 22.7% to 10,661 vehicles, yet shares are up 49.9% from an April low. Management reaffirmed 2025 delivery guidance of 40,000–46,000 units and is pursuing cost efficiencies, strategic partnerships, and the R2 launch to counter demand headwinds.
Read at 24/7 Wall St.
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