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

9.95

Mkt cap

10B

Volume

51M

High

10.24

P/E Ratio

-1.84

52-wk high

24.61

Low

9.81

Div yield

N/A

52-wk low

8.26

During Thursday's pre-market session, several consumer discretionary stocks saw significant movement. Gainers included Alliance Entertainment (AENT), Golden Heaven Group Hldgs (GDHG), VinFast Auto (VFS), PARTS iD (ID), Torrid Holdings (CURV), and EBET (EBET). Losers included Emerson Radio (MSN), Inspirato (ISPO), Rivian Automotive (RIVN), Dixie Gr (DXYN), RumbleON (RMBL), and Beachbody Co (BODY).

Portfolio Pulse from Benzinga Insights

October 05, 2023 | 1:10 pm

VS Media is expanding into Macau, showing strong growth in digital marketing. Longeveron announced positive results for Lomecel-B™ in its Phase 2a clinical trial for Alzheimer's treatment. Rivian Automotive shares dropped after announcing a $1.5 billion proposed green convertible senior notes offering and preliminary Q3 revenue estimates.

Portfolio Pulse from ryanfaloona@benzinga.com

October 05, 2023 | 12:46 pm

Rivian Automotive has announced a $1.5 billion proposed green convertible senior notes offering. The company also reported preliminary Q3 revenue estimates. This news has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 12:24 pm

The US stock market is expected to open slightly lower on Thursday, following a recovery on Wednesday. The dollar and crude oil are surging in tandem, which could impact economies, industries, and consumers. This could challenge corporate profits, especially for US exporters and multinationals, as higher oil prices increase costs and a stronger dollar makes their products less competitive. In premarket trading, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged down 0.07% and the Invesco QQQ ETF (NASDAQ:QQQ) edged up 0.01%. Stocks in focus include Sirius XM Holdings Inc. (NASDAQ:SIRI), The Clorox Company (NYSE:CLX), Rivian Automotive, Inc. (NASDAQ:RIVN), Conagra Brands, Inc. (NYSE:CAG), Constellation Brands, Inc. (NYSE:STZ), and Levi Strauss & Co. (NYSE:LEVI).

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 11:16 am

Several US stocks traded lower in Thursday's pre-market session. Cambium Networks (CMBM) shares dipped 27.8% after the company reported lower than expected preliminary Q3 revenue and suspended its full-year 2023 guidance. MaxCyte (MXCT) shares fell 21.4% due to a decrease in Q3 total revenue. Accolade (ACCD) shares declined 9.2% after reporting Q2 results. Rivian Automotive (RIVN) shares fell 8.7% after announcing a debt offering. Resources Connection (RGP) and Nanobiotix (NBTX) shares also fell after reporting financial results. Lithium Americas (LAAC) and Clorox (CLX) shares fell in pre-market trading.

Portfolio Pulse from Lisa Levin

October 05, 2023 | 10:03 am

Rivian Automotive, Inc. (NASDAQ:RIVN) shares plunged in premarket trading following the announcement of a $1.5 billion green convertible senior notes offering due in 2030. Despite not having a dilutive impact on the stock, the debt offering could trigger liquidity concerns. The company also pre-announced Q3 revenue of $1.29 billion to $1.33 billion, compared to $551.57 million a year ago. Rivian's stock fell 8.61% to $21.65 in premarket trading.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 9:54 am

VinFast Auto (NASDAQ:VFS), the electric vehicle manufacturer from Vietnam, has seen significant volatility in its stock price, with average swings of 22% and no clear triggers. Despite providing full-year delivery guidance for 2023, the stock has dropped about 52% since then. The company's market capitalization is currently around $19 billion, lower than Rivian Automotive's (NASDAQ:RIVN) market cap of about $21 billion.

Portfolio Pulse from Benzinga Neuro

October 05, 2023 | 7:14 am

Rivian Automotive, Inc. (NASDAQ:RIVN) announced a $1.5 billion green convertible senior notes offering, causing its stock to drop by 8% in after-hours trading. The proceeds will be used to finance, refinance, and invest in new or recently completed projects. The company also released its Q3 preliminary results, with revenues falling in line with expectations. Rivian expects its cash, cash equivalents, and short-term investments to stand at $9.1 billion at the end of Q3.

Portfolio Pulse from Shanthi Rexaline

October 05, 2023 | 6:37 am

US stocks ended higher on Wednesday with Dow Jones, NASDAQ, and S&P 500 all experiencing gains. Five stocks that gained attention were Rivian Automotive, Lithium Americas Corp., Tesla, Alphabet, and Exxon Mobil. Rivian announced its intention to offer green convertible senior notes, Lithium Americas completed the separation into two independent public entities, Tesla's stock is bouncing back amidst ongoing United Auto Workers strikes, Alphabet launched the Pixel 8 and Pixel 8 Pro smartphones, and Exxon Mobil is navigating complex political landscapes.

Portfolio Pulse from Benzinga Neuro

October 05, 2023 | 1:26 am

Rivian Automotive has reported preliminary estimates for Q3 2023 revenue of $1.29B-$1.33B, which is in line with estimates of $1.3B. The increase in revenue is primarily due to an increase in vehicle deliveries. The company also believes its existing cash, cash equivalents, and short-term investments will be sufficient to fund operations and capital expenditures through 2025.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2023 | 9:47 pm

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