Rivian Seems To Have Resolved Its Biggest Money-Draining Issues
Portfolio Pulse from Upwallstreet
Rivian Automotive Inc (RIVN) posted better than expected Q2 results, with a narrower loss and increased production guidance. The company's stock has risen 80% over the past 90 days. Rivian made $1.12 billion in revenue, topping Refinitiv’s consensus estimate of $1 billion. The company delivered 12,640 EVs, a 59% increase compared to Q1. Rivian also raised its 2023 production outlook to 52,000 EVs, double its 2022 output. The company's CEO assured investors that liquidity is covered through 2025.
August 11, 2023 | 1:26 pm
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NEGATIVE IMPACT
Rivian's strong Q2 results and increased production guidance could potentially increase competition for Tesla in the EV market.
Rivian's strong performance could potentially increase competition for Tesla in the EV market. This could potentially put downward pressure on Tesla's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
As a backer of Rivian, Amazon could potentially benefit from Rivian's strong Q2 results and increased production guidance.
Amazon, as a backer of Rivian, could potentially benefit from the EV maker's strong performance. This could boost investor confidence in Amazon and potentially drive its stock price up.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Rivian's better than expected Q2 results and increased production guidance could boost investor confidence and potentially drive the stock price up in the short term.
Rivian's Q2 results exceeded expectations, which could boost investor confidence. The company's increased production guidance indicates strong future performance, which could further drive the stock price up.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100