Just as the rest of the electric vehicle (EV) sector, Rivian (NASDAQ: RIVN) recorded a negative performance on a year-to-date basis, losing 43% of its stock value in the process.
Volkswagen shares declined after the German automaker announced a joint venture with Rivian Automotive to develop vehicle software, evidence of the moves the company is making to bolster its technology.
Both Carnival and FedEx beat earnings today, while Rivian got a major partner in VW, and NVIDIA returned to being NVIDIA.
Shares of Rivian (Nasdaq:RIVN) are exploding higher today, up nearly 9% during the day and hovering around 40% after hours on the news Volkswagen will invest $1 billion in Rivian, with plans to increase this amount to $5 billion.
VW Group invest $1 billion into EV startup Rivian as part of a software development deal that could expand to as much as $5 billion.
After encountering some rough trading sessions, electric vehicle (EV) manufacturer Rivian Automotive (NASDAQ: RIVN ) enjoyed a strong performance on Tuesday. Part of the sentiment may be attributed to Guggenheim.
Now may be the time to buy Rivian before it achieves breakeven EBITDA. Rivian is holding its 2024 Investor Day with analysts later this week.
Rivian Automotive (NASDAQ: RIVN ) stock is on the climb today as the electric vehicle (EV) maker prepares to turn its first per-vehicle profit in company history. Indeed, Rivian is in the midst of several major cost-cutting efforts, with the end goal of producing a positive gross margin.
NEW YORK, NY / ACCESSWIRE / June 25, 2024 / If you suffered a loss on your Rivian Automotive, Inc. (NASDAQ:RIVN) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
NEW YORK, NY / ACCESSWIRE / June 25, 2024 / If you suffered a loss on your Rivian Automotive, Inc. (NASDAQ:RIVN) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: Click Here or contact Joseph E. Levi, Esq.
Guggenheim initiated coverage on Rivian Automotive Inc RIVN with a Buy rating Tuesday as the firm expects the electric vehicle company to emerge from the EV winter as a market leader.