What's Going On With Rivian Stock Friday?
Portfolio Pulse from Erica Kollmann
Rivian Automotive (NASDAQ:RIVN) shares are trading lower on Friday after earlier gains due to a partnership with Volkswagen and the company's investor day. Rivian expects Q2 vehicle production between 9,100 and 9,300 units and aims to produce 57,000 vehicles in 2024. The R2 model EV is set to launch in the first half of 2026. Analysts have updated their coverage, with mixed ratings and price targets ranging from $10 to $23.
June 28, 2024 | 4:51 pm
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NEUTRAL IMPACT
Rivian's stock is trading lower after initial gains from a new partnership with Volkswagen and positive updates during its investor day. The company forecasts Q2 production between 9,100 and 9,300 units and plans to launch the R2 model EV in 2026. Analysts have mixed ratings, with price targets ranging from $10 to $23.
Despite positive news from a partnership with Volkswagen and production forecasts, Rivian's stock is trading lower. Mixed analyst ratings and price targets suggest uncertainty in the market, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100