Rivian's Stock Ahead Of Q3 Report: Will Narrower Losses Drive Investor Confidence?
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive is set to announce its Q3 results, with analysts expecting a narrower loss of $1.32 per share and a revenue of $1.327 billion, marking a 140% YoY increase. The company's stock has declined by 46.3% over the past year, underperforming the KraneShares Electric Vehicles and Future Mobility Index ETF, which dropped by 20%. Investors will be keen to know whether industry-wide price cuts have impacted Rivian’s gross margins and updates on the company's second-gen EV line-up, R2.
November 07, 2023 | 8:18 am
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NEGATIVE IMPACT
The KraneShares Electric Vehicles and Future Mobility Index ETF has dropped by 20% over the past year, outperforming Rivian's stock.
The ETF's performance is linked to the electric vehicle industry, which has been facing challenges. However, it has outperformed Rivian's stock, indicating a relative strength.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Rivian recently hired Mercedes-Benz Group veteran Arnhelm Mittelbach as its plant manager, which could potentially impact the company's operations.
The hiring of a veteran from Mercedes-Benz Group could bring valuable experience to Rivian's operations. However, the direct impact on Mercedes-Benz Group's stock is not clear from the news.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Rivian is expected to announce a narrower loss and a significant YoY revenue increase in its Q3 results. However, its stock has been underperforming over the past year.
The expected improvement in Rivian's financial performance could boost investor confidence. However, the company's stock has been underperforming, which might offset any potential positive impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100