"In July, the EV maker announced that is continuing work on its Georgia plant, which is slated to open in 2028. Earlier in July, Rivian announced a partnership with Google Maps on a new navigation system for its electric vehicles. Rivian will continue to offer its own customized navigation interface on the 15.6-inch center touchscreen, but the underlying data is now powered by the Automotive SDK from Google Maps instead of third-party alternatives."
"Guggenheim recently downgraded Rivian to Neutral from Buy. On June 2, it was reported that Rivian was eyeing a new debt deal as expected vehicle deliveries slumped. The U.S.-based EV maker announced plans to offer $1.25 billion in senior secure green notes due 2031 in a private offering. The EV maker plans to use those funds, as well as cash on hand, to redeem $1.25 billion of outstanding senior secured notes due in 2026."
"The company reported full-year earnings in late February, announcing a negative gross profit of $1.2 billion compared to negative $2 billion in 2023, alongside record gross profits in Q4. Rivian expects to announce Q2 earnings on Aug. 5 after the market closes. Institutional ownership remains somewhat wary of the stock, with 53% of its float currently held by institutions. The largest institutional holder of RIVN remains Amazon (NASDAQ:AMZN) with 158,363,834 shares."
Rivian Automotive’s shares rose 3.43% over the past five trading sessions following an earlier 8.25% surge, yielding a 2.52% year-to-date gain and a 3.19% annual gain. The company continues construction on a Georgia plant scheduled to open in 2028 and launched a navigation partnership with Google Maps while retaining its customized touchscreen interface. Guggenheim downgraded the stock to Neutral. Rivian announced a private offering of $1.25 billion in senior secured green notes due 2031 to redeem $1.25 billion of outstanding notes due 2026. Full-year results showed a negative gross profit of $1.2 billion versus negative $2 billion in 2023, with record Q4 gross profits. Institutional investors hold 53% of the float, with Amazon the largest holder.
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