Shares of $Rivian Automotive (RIVN.US)$plummeted 10% in after-hours trading Thursday after CEO RJ Scaringe and other executives reported a surge in customer reservations but cut vehicle production expectations for the year.
Rivian said it expects to fall “a few hundred vehicles short” of its 2021 production target of 1,200 vehicles.
Aside from the production snags, Rivian said total reservations for its electric R1T pickup and R1S SUV increased to 71,000 as of Dec. 15, up 28% compared with the most recent tally of 55,400 vehicles in November.
Also, a new battery and assembly plant announced Thursday will be east of Atlanta and is expected to facilitate production of up to 400,000 vehicles per year, Rivian said. Construction on the facility is expected to begin in summer 2022, and the start of production is slated for 2024.
Still having faith in Rivian? Or which messages above changed your thoughts on it?
Source:
Rivian shares slide after company cuts 2021 EV production expectations

I’m whatever the opposite of novice is, so this take is coming from a place of a person shaking their head at the stupidity, even though I know not to hate the player, but the game. truth is, inefficiencies create opps. I just want to make sure I have this right. $Rivian Automotive (RIVN.US)$ ’s down 11% AH because earnings were disappointing. That’s dumb enough.  Not that it sold off to the level it did.  It’s routine with SPACs on their 1st report, where they announce btw, we are not making any money yet, just like we said we wouldn’t have.  But you already knew this didn’t you? I mean seriously, Jesus H Christ.  So, $Lucid Group (LCID.US)$ sells off in sympathy.  For no reason folks.  The world is pathetic.  There are a million reasons a stock should go up or down.  One of them is not because an earnings report is released where the company didn’t make any money, just like everyone on the planet paying attention should have known.  And another one is not for companies on the same sector to go down in sympathy.

$NIO Inc (NIO.US)$ someone please convince me to hold it

$Futu Holdings Ltd (FUTU.US)$ hopeless stock?

$Rivian Automotive (RIVN.US)$ can this shit just fall. Below 100 alr my. Put is expiring in 2 months T.T let's go man how is it valued higher than nio