EV demand continues to climb in the U.S. Still, demand growth has lagged expectations this year. EV automakers are pulling back, creating investable opportunities.
Rivian shares have plummeted 43% through the first half of 2024. The company's financial health is more secure thanks to a partnership with Volkswagen.
Recently, the EV theme has regained some life, with stocks such as Tesla and Rivian Automotive enjoying strong price action following solid delivery numbers.
Shares of Rivian (RIVN) rose Tuesday after the electric vehicle (EV) maker reported production and delivery numbers for the second quarter that came in better than expected.
Rivian denied a media report on Tuesday that said the U.S. electric vehicle company was in early talks with Volkswagen to extend their partnership beyond a recently announced software joint venture.
Shares of Rivian (NASDAQ: RIVN ) stock are in the green by 7.5% after the electric vehicle (EV) company announced its second-quarter production and deliveries. Rivian produced 9,612 vehicles compared to 13,992 vehicles a year ago, signaling a drop of 31.3%.
Rivian Automotive Inc RIVN has been on a tear, with its stock price surging over 30% in the past month. This impressive performance outshone Tesla stock, which rose just over 25% during the same period.
Rivian's vehicle deliveries were better than expected for the second quarter. The company also produced more vehicles than it previously estimated.
NEW YORK, NY / ACCESSWIRE / July 2, 2024 / Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Rivian Automotive, Inc. ("Rivian" or "the Company") (NASDAQ:RIVN) and certain of its officers. Class Definition: This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Rivian securities between August 12, 2022, and February 21, 2024, inclusive (the "Class Period").
For 2024 overall, the company expects to manufacture about 57,000 vehicles.
Electric vehicle (EV) maker Rivian (NASDAQ: RIVN ) had its price target raised by RBC Capital following its deal with Volkswagen (OTCMKTS: VWAGY ). The German auto giant formed a joint venture with the American company that could be worth $5 billion.
Shares of Rivian Automotive Inc. rallied Tuesday, after the electric-vehicle maker reported quarterly deliveries data that beat expectations by a record margin.