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0.000792393026941346 0.000839936608557858 0.00713153724247225 0.00237717908082404 -0.00277337559429478 -0.00118858954041209 0.00713153724247225 0.00381141045958794
Stock impact report

Why Rivian Stock Plunged Today [Yahoo! Finance]

Rivian Automotive, Inc. (RIVN) 
Company Research Source: Yahoo! Finance
If you liked Rivian stock before today, though, you should like it even more now. While Rivian's EV deliveries declined by 36% year over year, the number of units shipped (8,640) was in line with guidance and expectations. Investors punished the stock, though. Shares were lower by 5.6% as of 10:33 a.m. ET. Rivian management had alerted investors to expect a drop in deliveries to start the year. Fires in California and general demand malaise for fully electric EVs were the main reasons. Yet there was good news hidden in today's report as well. Even as the company is working to retool its factory for the roll-out of its less expensive R2 SUV next year, first-quarter production was higher year over year. It manufactured over 14,600 vehicles, compared to 13,980 last year. Management also reiterated guidance of 46,000 to 51,000 vehicles for 2025 deliveries. Investors who liked the stock before today's report should be happy with the market reaction. Shares now are in the red by a Show less Read more
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