Rivian Automotive Inc.'s stock appreciated 13.8% over the past five trading sessions but analysts remain wary after the company's first-quarter earnings report on May 6. While Rivian exceeded expectations in losses and revenue, the stock dropped nearly 6% due to guidance indicating reduced deliveries for 2025. The EV market's robust growth potential contrasts with Rivian's 90% decline from its IPO high. Nonetheless, the company has seen consecutive quarters of positive gross profit and a strong cash position, pursuing strategic partnerships and cost efficiencies to navigate challenges ahead.
Rivian has reported consecutive quarters of positive gross profit, but despite beating expectations, the stock fell 6% due to lowered delivery forecasts.
Despite Rivian's stock year-to-date gain of 26.9%, Wall Street analysts are cautious, downgrading the stock or decreasing price targets in light of the recent earnings report.
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