Rivian Automotive Inc. shares have decreased by 2.1% amid news of layoffs and financing from Volkswagen. The company reported adjusted losses of $0.48 per share against analyst expectations and revenue exceeding forecasts, yet the stock dropped significantly post-announcement. Rivian's year-to-date performance shows only a 1.2% gain. Despite strong cash reserves and positive gross profit trends, forecasts indicate lower vehicle deliveries for 2025 compared to 2024, posing challenges within a rapidly growing EV market projected to expand by 32% CAGR through 2030.
Despite surpassing Wall Street's expectations with adjusted losses of $0.48 per share, Rivian's stock fell almost 6% the next day, reflecting a 90% decline from its IPO high.
Rivian forecasts lower deliveries for 2025 than in 2024, which raises concerns as the EV market is expected to grow at a CAGR of 32% through 2030.
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