Rivian Joins EV Maker Stock Surge After Strong Delivery Numbers
Shares of Rivian ( $Rivian Automotive(RIVN.US$ ) rose Tuesday after the EV maker reported better-than-expected production and delivery numbers for Q2.
Key Numbers:
![]()
Production: 9,612 vehicles (analysts expected 8,700)
![]()
Deliveries: 13,790 vehicles (analysts expected 11,510)
Rivian’s production fell from 13,992 vehicles last year, but deliveries rose from 12,640.
Rivian affirmed its goal of producing 57,000 vehicles for the fiscal year, slightly above analysts' expectations. The stock gained 7%, closing at $14.89, the highest since mid-February.
Key Numbers:
Rivian’s production fell from 13,992 vehicles last year, but deliveries rose from 12,640.
Rivian affirmed its goal of producing 57,000 vehicles for the fiscal year, slightly above analysts' expectations. The stock gained 7%, closing at $14.89, the highest since mid-February.
Q2 Numbers the Latest Positive News for Rivian
Market Context:
Global EV market is rebounding.
$Tesla(TSLA.US$ and Chinese competitors $BYD COMPANY(01211.HK$ $NIO-SW(09866.HK$ also reported strong numbers.
$General Motors(GM.US$ saw a 40% increase in EV deliveries.
Rivian's stock has been rising, supported by a recent partnership with Volkswagen $VOLKSWAGEN A G(VWAGY.US$ , which includes significant investment and a joint venture for developing EV technology and software. Rivian will release its quarterly earnings report on Aug. 6.
Market Context:
Global EV market is rebounding.
$Tesla(TSLA.US$ and Chinese competitors $BYD COMPANY(01211.HK$ $NIO-SW(09866.HK$ also reported strong numbers.
$General Motors(GM.US$ saw a 40% increase in EV deliveries.
Rivian's stock has been rising, supported by a recent partnership with Volkswagen $VOLKSWAGEN A G(VWAGY.US$ , which includes significant investment and a joint venture for developing EV technology and software. Rivian will release its quarterly earnings report on Aug. 6.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
102332870 : in China terms.... Rivian deliveries is a joke