Rivian Automotive (RIVN) came out with a quarterly loss of $0.7 per share versus the Zacks Consensus Estimate of a loss of $0.72. This compares to a loss of $1.03 per share a year ago.
Rivian rides expiring EV credits to a revenue beat, and its stock moves higher.
Rivian Automotive reported its second quarterly gross profit this year. In this article RIVN
Shares of Rivian Automotive (NASDAQ:RIVN) lost 1.57% over the past five trading sessions after gaining 2.70% the five prior.
RIVN's Q3 results are set to arrive on Nov. 4, with rising deliveries, stronger software revenues, and narrowing losses in focus.
Rivian Automotive (RIVN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Shares of Rivian Automotive (NASDAQ:RIVN) gained 2.70% over the past five trading sessions after losing 1.21% the five prior.
Rivian's stock is now down by more than 80% from its all-time high. The electric vehicle maker has grappled with supply chain issues, a difficult macroeconomic environment, and intensifying competition.
Rivian Automotive Inc (NASDAQ:RIVN) has agreed to pay $250 million to settle a securities class-action lawsuit filed in 2022 over disclosures related to its 2021 initial public offering (IPO) and subsequent vehicle pricing. The litigation, filed in the US District Court for the Central District of California, alleged that Rivian's IPO disclosures and certain statements made during a December 17, 2021, earnings call and SEC filing were materially false or misleading.
Rivian has agreed to pay $250 million to settle a class-action shareholder lawsuit filed after the company suddenly hiked prices on its R1 pickup truck and SUV in 2022.
Rivian Automotive Inc. (NASDAQ: RIVN) has been crippled for years, and the battered electric vehicle (EV) industry has made this worse.
Rivian's founder and CEO RJ Scaringe is taking on a new role at his company as part of a restructuring ahead of next year's launch of the R2 SUV, which involves a layoff of more than 600 employees.