Rivian Automotive Inc. shares increased 13.9% after announcing new headquarters in Atlanta and autonomous driving expansion in London. Despite beating earnings estimates with adjusted losses of $0.48 per share and $1.24 billion in revenue, the stock fell nearly 6% following the report. Rivian forecasts lower deliveries for 2025 than 2024 despite the EV market's expected 32% CAGR through 2030. The company maintains strong cash positions and has achieved positive gross profit in consecutive quarters while implementing cost efficiencies and strategic partnerships.
Rivian Automotive Inc. announced its new headquarters in Atlanta and expansion of its autonomous driving efforts in London, leading to a 13.9% rise in shares over five trading sessions.
Despite beating expectations with adjusted losses of $0.48 per share and revenues of $1.24 billion, Rivian's stock fell almost 6% post-earnings announcement, reflecting a 90% decline since its IPO.
Rivian forecasts lower deliveries for 2025 than in 2024, posing challenges despite the growing EV market projected to expand at a CAGR of 32% through 2030.
The company's strategic partnerships, R2 launch, and cost efficiencies aim to counter significant obstacles while posting consecutive quarters of positive gross profit.
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