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

10.07

Mkt cap

10B

Volume

78M

High

10.07

P/E Ratio

-1.80

52-wk high

24.61

Low

9.55

Div yield

N/A

52-wk low

8.26

Rivian Automotive Inc. (RIVN) is closing the gap with Tesla Inc. (TSLA) in the premium EV market. By the end of Q3, Rivian had delivered 15,564 vehicles, coming close to Tesla’s 15,985 Model S and X vehicle deliveries worldwide. Despite Tesla CEO Elon Musk's prediction of Rivian's bankruptcy, Rivian is now aiming to post its first gross profit in 2024.

Portfolio Pulse from Anan Ashraf

October 09, 2023 | 9:46 am

The S&P 500 gained 0.5%, the Dow dipped by 0.3%, and the Nasdaq rose by 1.6% over the past week. The 10-year Treasury yield surged to a 16-year high of 4.75%. Bullish sentiments were expressed for Tesla Inc (TSLA), Microsoft Corporation (MSFT), and Shiba Inu (SHIBUSD). Bearish sentiments were expressed for Apple Inc. (AAPL), The Walt Disney Company (DIS), and Rivian Automotive Inc (RIVN).

Portfolio Pulse from Michael Cohen

October 07, 2023 | 3:00 pm

The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 07, 2023 | 2:56 pm

Benzinga's options activity scanner has identified significant options activity in 10 consumer discretionary stocks. The stocks include Tesla (TSLA), Nike (NKE), Rivian (RIVN), Capri Holdings (CPRI), Airbnb (ABNB), Carvana (CVNA), RH (RH), Dick's Sporting Goods (DKS), DraftKings (DKNG), and Crocs (CROX). The options activity ranges from bullish to bearish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

October 06, 2023 | 5:35 pm

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have revamped the $7,500 EV tax credit system, making the savings immediate rather than waiting for a tax return. This applies to both new and previously owned clean vehicles. Dealers must register via a new IRS portal called Energy Credits Online to facilitate the transaction. The new rule is expected to boost the electric vehicle market in the U.S. Shares of Tesla Inc (NASDAQ:TSLA), Rivian Automotive Inc (NASDAQ:RIVN), and Lucid Group Inc (NASDAQ:LCID) saw a lift after the Treasury Department issued its new guidance.

Portfolio Pulse from AJ Fabino

October 06, 2023 | 4:27 pm

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:15 pm

Benzinga's Stock Whisper Index has highlighted five stocks that are currently under the radar but warrant attention. These include Maison Solutions, which recently went public and saw investor interest; Nuvalent Inc, which saw its shares soar after announcing preliminary Phase 1 data for one of its drugs; American Airlines Group, which could be impacted by a potential federal shutdown; Rivian Automotive, which saw its shares drop after announcing plans to offer $1.5 billion in senior notes; and A10 Networks, which saw its shares drop after reporting lower than expected preliminary third-quarter financial results.

Portfolio Pulse from Chris Katje

October 06, 2023 | 3:05 pm

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower after the company priced its $1.5 billion green convertible senior notes offerings. The issuance of these notes increases Rivian's debt obligations, which could raise concerns among investors about the company's ability to service its debt and its creditworthiness. The notes have an annual interest rate of 3.625% and will mature on October 15, 2030. They can be converted into cash, Rivian shares, or a combination of both.

Portfolio Pulse from Henry Khederian

October 06, 2023 | 2:01 pm

Rivian Automotive has priced a $1.5 billion green convertible senior notes offering, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 12:54 pm

Rivian Automotive has priced its offering of $1.5 billion aggregate principal amount of 3.625% green convertible senior notes due 2030. The issuance and sale of the notes are scheduled to settle on October 10, 2023. Rivian also granted the initial purchasers an option to purchase up to an additional $225 million principal amount of notes.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 5:58 am

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