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

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower, with a nearly 20% decline since the company reported its Q2 financial results in early August. Despite beating analyst consensus estimates for both losses per share and sales, the stock has been under pressure. Recent price cuts in the EV industry have also put pressure on Rivian to follow suit.

Portfolio Pulse from Ryan Gustafson

August 22, 2023 | 7:34 pm

Rivian's stock is trading lower without any specific news related to the company.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 6:09 pm

Jim Cramer on CNBC's 'Mad Money Lightning Round' gave his opinions on several stocks. He praised Applied Materials (AMAT) and Alphabet (GOOGL) for their strong quarterly results and recommended buying them. He also spoke positively about Tutor Perini Corporation (TPC) and Huntington Bancshares (HBAN). However, he criticized TELUS International (TIXT) and Rocket Lab USA (RKLB), and advised against buying NIO Inc. (NIO) due to its Chinese origin. He expressed discomfort with the high yield of Medical Properties Trust (MPW).

Portfolio Pulse from Lisa Levin

August 22, 2023 | 12:26 pm

Tesla, Inc. (TSLA) shares are trading higher after Baird Equity Research added Tesla to its 'best ideas' list. The research firm cited the launch of the Cybertruck EV, growing adoption of Full Self-Driving software, and expansion into new markets as catalysts. Tesla's recent price cuts were seen as a move to increase market share and demand. Meanwhile, sentiment for Rivian Automotive, Inc. (RIVN) is improving as the company works to reduce costs.

Portfolio Pulse from Erica Kollmann

August 21, 2023 | 7:11 pm

Electric pickup trucks are gaining traction, with Rivian's R1T already on the road and Tesla's Cybertruck expected by year-end. Worksport Ltd's SOLIS and COR products are designed to enhance the power of these vehicles. SOLIS is a solar-powered tonneau cover that can charge EV pickups, while COR is a portable battery system. Ford Motor and General Motors are also mentioned as players in the EV pickup market, but Ford is facing setbacks and is expected to lose $1.5 billion more than anticipated this year in its EV segment.

Portfolio Pulse from Upwallstreet

August 21, 2023 | 1:52 pm

A study by Cox Automotive reveals that Ford's F-150 Lightning is surpassing Tesla's Cybertruck in buyer interest. The study highlighted the influence of brand strength, particularly in the full-size pickup truck segment. Ford's historical success in the truck sector has established deep consumer loyalty. The Ford F-150 Lightning secured the top spot across all evaluated categories: driving range, performance, price, appearance, and technological advancement. The study also included other EV counterparts like Chevy, General Motors (Hummer), Ram Truck, and Rivian Automotive.

Portfolio Pulse from Ananya Gairola

August 19, 2023 | 11:37 am

Electric vehicle stocks fell last week due to fears of more interest rate hikes by the Federal Reserve. Tesla's stock fell after it cut prices of its Model S, Model X, and Model Y vehicles in China, which was seen as a desperate move to attract customers amid challenging demand and competitive pressure. However, rumors suggest Tesla's refreshed Model 3 EV, referred to as “Highland,” will arrive at showrooms in China later this month. Fisker signed an agreement with Tesla to adopt the latter's North American Charging Standard for its first vehicles. XPeng reported a record quarterly loss of 2.7 billion yuan despite its sales meeting expectations. VinFast Auto made a strong debut on the Nasdaq but retreated over the remainder of the week.

Portfolio Pulse from Shanthi Rexaline

August 19, 2023 | 11:23 am

Pham Nhat Vuong, founder of VinFast Auto Ltd. (NASDAQ:VFS), lost about $18 billion due to a sharp decline in the company's shares. The shares had surged 255% on its first day of trading on Nasdaq but were followed by three consecutive days of losses. Despite this, Vuong's net worth is still higher than before the company's listing. VinFast's market capitalization peaked at $85 billion, surpassing General Motors Co., but ended the week around $36 billion, still ahead of EV competitors like Rivian Automotive Inc. (NASDAQ:RIVN), Nio Inc. (NYSE:NIO), and Lucid Group Inc (NASDAQ:LCID).

Portfolio Pulse from Benzinga Neuro

August 19, 2023 | 3:52 am

The article reports on the options activity of 10 consumer discretionary stocks in today's session. The stocks include Tesla (TSLA), Ford (F), Overstock.com (OSTK), General Motors (GM), Li Auto (LI), NIO Inc. (NIO), Airbnb (ABNB), Carvana (CVNA), Rivian (RIVN), and Wayfair (W). The article provides details on 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

August 18, 2023 | 5:35 pm

VinFast Auto Ltd.'s stock was listed on the Nasdaq following a SPAC deal, reaching a valuation of over $85 billion, more than General Motors Corp. and Ford Motor Co. However, the stock pulled back by about 18.75% on Wednesday. Analysts and investors, including Jim Cramer, have expressed concerns about the company's high valuation and potential negative impact on other EV companies like Tesla and Rivian.

Portfolio Pulse from Shanthi Rexaline

August 17, 2023 | 9:33 am

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