Rivian Vs Lucid: Fund Manager Gary Black Dissects Divergent Tale Of 2 EV Makers After Q3 Results
Portfolio Pulse from Shanthi Rexaline
Rivian Automotive (RIVN) and Lucid Group (LCID) reported their Q3 results with divergent outcomes. Rivian upgraded its 2023 production guidance from 52,000 to 54,000 units due to robust demand, while Lucid reduced its guidance from over 10,000 units to 8,000-8,500 units due to weakened demand. Both companies are grappling with losses, with Lucid reporting a loss of $630.89 million and Rivian a net loss of $1.37 billion. In after-hours trading, Rivian's stock rose 4.36% while Lucid's fell 4.19%.
November 08, 2023 | 5:58 am
News sentiment analysis
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NEGATIVE IMPACT
Lucid reduced its 2023 production guidance due to weakened demand, leading to a fall in its stock price.
Lucid's reduced production guidance indicates weakened demand for its products, which is a negative signal for investors. This likely contributed to the fall in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla was mentioned in the context of the challenges of mass production in the EV industry.
Tesla was mentioned in the context of the challenges of mass production in the EV industry, but the news does not directly impact its stock.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Rivian upgraded its 2023 production guidance due to robust demand, leading to a rise in its stock price.
Rivian's upgraded production guidance indicates strong demand for its products, which is a positive signal for investors. This likely contributed to the rise in its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100