Shares of Rivian Automotive (NASDAQ:RIVN) surged 9.83% over the past five trading sessions on news that the EV maker is continuing work on its Georgia plant, which is slated to open in 2028.
Rivian will resume prep-work on its planned Georgia factory in August and is still looking to break ground early next year, according to emails TechCrunch obtained through a public records request.
Shares of Rivian Automotive (NASDAQ:RIVN) lost 3.50% over the past five trading sessions, compounding the stock's one-month loss to 7.78%.
Rivian Automotive (RIVN) concluded the recent trading session at $12.75, signifying a -2.15% move from its prior day's close.
Rivian is making significant progress towards profitability due to major cost reductions, despite current sales challenges in the premium EV sector. The upcoming R2 and R3 models are set to dramatically boost sales, with production ramping up at the Normal, Illinois facility in 2026. Tesla's recent struggles and Elon Musk's political distractions create an opportunity for Rivian to capture market share in the domestic EV segment.
Rivian founder and CEO RJ Scaringe has transferred a portion of his ownership stake and voting power as part of a newly-settled divorce proceeding, according to a regulatory filing.
Electric vehicle (EV) stock Rivian Automotive Inc (NASDAQ:RIVN) is down 2.9% to trade at $12.65 at last check, after a downgrade from Guggenheim to "neutral" from "buy" to go with a price-target cut to $16.
Also Inc., the micromobility startup spun out of Rivian earlier this year, has raised $200 million from Greenoaks Capital, according to a new report from Bloomberg News.
Shares of Rivian Automotive (NASDAQ:RIVN) lost 6.25% over the past five trading sessions, compounding their one-month loss to 11.46%.
Rivian Automotive (RIVN) reached $12.75 at the closing of the latest trading day, reflecting a -2.45% change compared to its last close.
The share price of electric vehicle (EV) manufacturer Rivian (NASDAQ: RIVN) continues to fluctuate, though a section of Wall Street analysts expect upside potential over the next 12 months.
Rivian Automotive Inc (NASDAQ:RIVN) shares moved lower as it reported a nearly 23% year-over-year drop in second quarter vehicle deliveries. The electric vehicle company delivered about 10,600 vehicles, down from the year-ago period but marking a 23% increase compared to the approximately 8,600 vehicles delivered in Q1.