Streetbeat News

RIVN

Rivian Automotive, Inc.

Industry

Auto - Manufacturers

Rivian Automotive, Inc. designs, develops, manufactures, and sells electric vehicles and accessories. The company offers five-passenger pickup trucks and sports utility vehicles. It provides Rivian Commercial Vehicle platform for electric Delivery Van with collaboration with Amazon.com. The company sells its products directly to customers in the consumer and commercial markets. Rivian Automotive, Inc. was founded in 2009 and is based in San Jose, California.

Open

14.02

Mkt cap

15B

Volume

31M

High

14.41

P/E Ratio

-2.57

52-wk high

24.61

Low

13.75

Div yield

N/A

52-wk low

8.26

Tesla has announced the first Cybertruck has rolled off the Giga Texas production line. Analyst Gary Black predicts the Cybertruck will be priced just above the Model Y, with the three variants priced at $49,900, $59,900, and $79,900 respectively. This pricing will allow all trims of Cybertruck to qualify for the $7,500 electric vehicle tax credit under the Inflation Reduction Act of 2022. Black also expects the Cybertruck to compete well against Rivian's R1T electric pickup truck and Ford's F150 Lightning electric pickup truck.

Portfolio Pulse from Shanthi Rexaline

July 16, 2023 | 6:14 pm

A Rivian Automotive Inc (NASDAQ: RIVN) EV owner was charged $42,000 for a minor fender bender repair, roughly half the price of his truck. The high cost was attributed to the scarcity of repair facilities for the Rivian R1T and the associated expenses involved in fixing EVs equipped with advanced technology components. Rivian, like Tesla Inc (NASDAQ:TSLA), follows a non-dealer approach, resulting in limited repair options.

Portfolio Pulse from Bibhu Pattnaik

July 15, 2023 | 5:26 pm

The week ending July 14 saw mixed performances in electric vehicle (EV) stocks. Tesla (TSLA) advanced amid expectations for its Q2 earnings. The company shared a photo of the first Cybertruck off the Giga Texas production line, suggesting deliveries may begin in late Q3. Tesla is also reportedly discussing the second phase of its Giga Berlin project and potential EV factory in India. Lucid Group (LCID) fell short on quarterly deliveries, raising doubts about its ability to scale. Rivian Automotive (RIVN) saw its stock rally stall after a record winning streak. Nikola Corp. (NKLA) saw a surge after announcing a deal to sell 50 hydrogen fuel cell energy trucks to BayoTech. Canoo (GOEV) delivered three Artemis crew transportation vehicles to NASA.

Portfolio Pulse from Shanthi Rexaline

July 15, 2023 | 1:35 pm

Rivian Automotive Inc. (NASDAQ:RIVN) has introduced three different drive system configurations for its R1 platform. The options include a quad-motor drive system, a performance dual-motor drive system, and a dual-motor system. The company reported that it produced 13,992 vehicles in Q2, up from 9,395 in Q1, and delivered 12,640 vehicles, in line with expectations. Rivian also stated it is on track to meet its annual production guidance of 50,000 vehicles.

Portfolio Pulse from Anan Ashraf

July 15, 2023 | 9:54 am

Rivian shares are experiencing a downturn, potentially due to a pullback following recent strength in EV stocks.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 7:15 pm

The article reports on the options activity of 10 consumer discretionary stocks in today's session. The stocks include Tesla (TSLA), Mattel (MAT), Carvana (CVNA), DraftKings (DKNG), Nike (NKE), Li Auto (LI), RH (RH), Yum! Brands (YUM), Rivian (RIVN), and Royal Caribbean (RCL). The article provides detailed information about the type of options activity (put/call), trade type, sentiment, expiration date, strike price, total trade price, open interest, and volume for each stock.

Portfolio Pulse from Benzinga Insights

July 14, 2023 | 5:39 pm

Benzinga's Stock Whisper Index highlights five stocks that warrant attention. This week's stocks include Rivian Automotive (RIVN), which saw a 70% rise in shares due to strong Q2 production and delivery numbers; Recursion Pharmaceuticals (RXRX), which announced a $50 million investment by Nvidia Corporation (NVDA); Dragonfly Energy Holdings Corp (DFLI), which saw a small rally after announcing that nuCamp RV will use its products as standard equipment; Petros Pharmaceuticals (PTPI), which recently announced a $15 million private placement; and PainReform (PRFX), which saw a 40% rise in shares year-to-date.

Portfolio Pulse from Chris Katje

July 14, 2023 | 2:17 pm

Tesla Inc's stock rose by over 2% on Thursday, outperforming other EV competitors Rivian Automotive Inc and Nio Inc ADR, which traded slightly lower. The rise is attributed to overall market strength and reports of Tesla setting up a new production plant in India with an aim to produce 500,000 vehicles a year. Tesla's stock has rebounded quickly from its lows in January, trading up more than 140% and nearing its highest price in six months.

Portfolio Pulse from Aaron Bry

July 13, 2023 | 7:51 pm

Former top executive of Porsche Cars North America, Kjell Gruner, is reportedly moving to Rivian Automotive, a U.S. electric vehicle startup. Gruner's experience in marketing, operations, and strategy could be beneficial for Rivian.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 7:25 pm

According to a tweet by Cross-Sell Report, Rivian R1S has boosted new EV sales by 249% month-over-month in California.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 6:13 pm

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