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

The week ending on Sept. 8 saw a general downtrend in electric vehicle (EV) stocks, with some exceptions like Tesla. Key events included Tesla's Giga Shanghai plant producing its 2 millionth vehicle, and the company's focus on robotaxis. Deutsche Bank flagged risks to Tesla's Q3 production and deliveries. Lucid Group's CEO was reported as the highest paid automotive CEO in 2022, while the company struggles with production and deliveries. Fisker plans to increase production of its Ocean electric SUV. Nikola faced more fire incidents with its Trey electric semi-trucks. Honda adopted Tesla's North American Charging Standard for its future EV models.

Portfolio Pulse from Shanthi Rexaline

September 09, 2023 | 2:40 pm

Rivian Automotive Inc's CFO announced at the Goldman Sachs Conference that the company has experienced significant deflation in battery material prices, which will continue to benefit the company.

Portfolio Pulse from Benzinga Newsdesk

September 07, 2023 | 6:03 pm

Rivian Automotive Inc (NASDAQ:RIVN) is reportedly considering a relaunch of its powered tonneau cover after discontinuing it for an upgrade. The R1T model is designed to be compatible with both Rivian’s powered and manual tonneau covers. The powered tonneau cover is expected to become available in early 2024. Rivian initially introduced the powered tonneau cover, but ceased production in October 2022 after encountering issues. The company plans to reintroduce this feature, but a date has not been set.

Portfolio Pulse from Anan Ashraf

September 07, 2023 | 6:44 am

Rivian Automotive Inc's shares are trading lower by 2.8% amid overall market weakness, elevated oil prices, and rising Treasury yields. The rise in Treasury yields makes safer government bonds more attractive to investors, making high-growth stocks like Rivian less appealing. Rivian's valuation is based on future cash flows, which are impacted when Treasury yields rise.

Portfolio Pulse from Henry Khederian

September 06, 2023 | 3:38 pm

Ford Motor Company is facing regulatory scrutiny over its partnership with Chinese battery manufacturer CATL, labor negotiations that could lead to a strike, and competition in the electric vehicle market against Tesla and Rivian. The regulatory scrutiny is due to concerns that the partnership could compromise national security and increase U.S. dependence on China for electric vehicle supply chains. The labor negotiations could affect wages and benefits for thousands of workers and potentially disrupt Ford's production. Ford is also preparing to compete in the electric pickup market with its F-150 Lightning and upcoming products.

Portfolio Pulse from Mohit Manghnani

September 06, 2023 | 2:26 pm

Arm Holdings, backed by SoftBank, has launched its roadshow for its IPO, aiming for a valuation of up to $52 billion. The roadshow started in Baltimore, the headquarters of T. Rowe Price, which has been a key player in significant IPOs. SoftBank plans to offer 95.5 million American depository shares of Arm for $47 - $51 each. Arm has secured Apple, Nvidia, and Alphabet as cornerstone investors in its IPO. The market will closely watch the IPO for how Arm manages its relationship with its China business amid ongoing technology tensions.

Portfolio Pulse from Anusuya Lahiri

September 06, 2023 | 12:52 pm

Benzinga's options activity scanner has identified unusual options activity in the Consumer Discretionary sector. The stocks involved are Tesla (TSLA), Rivian (RIVN), Li Auto (LI), Lululemon Athletica (LULU), The RealReal (REAL), Bath & Body Works (BBWI), Chewy (CHWY), Foot Locker (FL), Marriott International (MAR), and Ross Stores (ROST). The options activity ranges from bearish to bullish and neutral sentiments.

Portfolio Pulse from Benzinga Insights

September 04, 2023 | 5:35 pm

Arm Holdings, a chip designer under SoftBank Group, is preparing for its IPO next week with a potential valuation of $50-$54 billion. The company's share price is expected to be between $47 and $51, which could result in an offering of $5-$5.4 billion. This valuation is lower than the $64 billion at which SoftBank recently acquired its 25% stake in the firm. Major companies including Apple, NVIDIA, Alphabet, AMD, Intel, Samsung, Cadence Design Systems, and Synopsys have shown interest in the IPO.

Portfolio Pulse from Bibhu Pattnaik

September 03, 2023 | 4:30 pm

Tesla has cut prices of its Model 3, Model S, and Model X vehicles in the U.S. and Canada, triggering negative reactions from investors and analysts. The company also launched the Model 3 refresh in Asia and Europe. Fisker announced additional details of its affordable PEAR EV and expansion into three more European markets. Chinese EV companies Nio, XPeng, and Li Auto reported strong August sales. VinFast's shares plunged after a strong start. Canoo named a new CFO.

Portfolio Pulse from Shanthi Rexaline

September 02, 2023 | 2:02 pm

The article reports on the options activity of 10 consumer discretionary stocks in today's session. The stocks include Tesla (TSLA), Ford (F), Carvana (CVNA), NIO (NIO), Nike (NKE), K12 (LRN), Sweetgreen (SG), Li Auto (LI), Burlington Stores (BURL), and Rivian (RIVN). 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

September 01, 2023 | 5:35 pm

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