Rivian cuts production forecast, citing supply chain issue; its stock dips [Yahoo! Finance]
Rivian Automotive, Inc. (RIVN)
Company Research
Source: Yahoo! Finance
Citing a shortage of a component used to build its electric pickups, sport utility vehicles and vans, Rivian said production could drop as much as 18% this year at its lone U.S. assembly plant. Rivian did not specify the part that is in low supply but noted that the shortage has become more acute in recent weeks. The company now forecasts its full-year production will be between 47,000 and 49,000 vehicles, down from an earlier estimate of 57,000. During the most recent quarter , Rivian produced 13,157 vehicles and delivered 10,018, falling short of analysts' expectations. Shares of Rivian ended the day at $10.44, down 3.2%. The company's stock has been battered since the start of the year, falling by more than 50% amid underwhelming financial reports. In the second quarter this year, Rivian posted a net loss of $1.46 billion compared with a loss of about $1.12 billion during the same period a year earlier. The company is scheduled to announce its third-quarter earnings next mon
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RIVN
News
- Rivian applies for federal loan to restart Georgia EV factory construction [Yahoo! Finance Canada]Yahoo! Finance Canada
- Rivian applies for federal loan to restart Georgia EV factory construction [Yahoo! Finance Canada]Yahoo! Finance Canada
- Rivian applies for federal loan to restart Georgia EV factory construction [Yahoo! Finance]Yahoo! Finance
- Rivian Seeking Federal Loan to Restart Georgia EV Plant Project [BNN Bloomberg (Canada)]BNN Bloomberg
- Rivian Seeking Federal Loan to Restart Georgia EV Plant Project [Yahoo! Finance]Yahoo! Finance
RIVN
Earnings
- 8/6/24 - Miss
RIVN
Sec Filings
- 10/4/24 - Form 8-K
- 9/25/24 - Form 4
- 9/23/24 - Form 144
- RIVN's page on the SEC website