February 14, 2025
London, UK

Here is Why Rivian Jumps 13% Today

Rivian Nasdaq 100 Rivian Automotive

Rivian stocks jump today after it reported that it produced 7,000 vehicles in the third quarter and will reach 25,000 vehicles in the full year 2022. So far in 2022, the company has produced 14,300 vehicles, 2,500 in the first quarter and 4,400 in the second quarter.

The company had downgraded its 2022 production target from 50,000 to 25,000 vehicles in March due to supply chain difficulties. Rivian production is growing by almost 67% per quarter as it went from zero vehicles a year ago to 25,000 by the end of the year.

Tesla (TSLA) reported on Sunday that produced 365,293 vehicles in the third quarter, well above the 237,823 cars produced in the third quarter of 2021 and delivered 343,830 cars.

Rivian Automotive Inc. reported a loss of $1.70 billion in the second quarter and expects a full-year loss of $5.45. The automaker’s market cap is up to $31.83 billion.

Rivian (RIVN) Stock

As of writing RIVN stock is 13.15% higher at $36.08 the stock has lost 65% of its value since the beginning of the year. From a technical perspective, the stock found strong support at the 100-day moving average and managed to bounce giving the bulls a deep breath. A close today above the 50-day moving average might attract more buyers.   

Previous Article

AUDUSD Lower On RBA Interest Rate Surprise

Next Article

The weekend in Cryptocurrencies

You might be interested in …

GME GameStop

GameStop GME Third Quarter 2024 Overview

Impact-Site-Verification: 5cdd8087-b507-4133-9f84-8d865c9fc541 GameStop Corp. GME released financial results for the third quarter ended November 2, 2024. GME THIRD QUARTER OVERVIEW GameStop Business Segment Performance • Hardware and Accessories: $417.4M down 27.9% YoY, 48.5% of total […]

FIVN Five9

Five9, Inc. (FIVN) Third Quarter Earnings

Five9 (FIVN), the San Ramon, California-based company reported financial results for the third quarter that ended September 30, 2022. The revenue beat the estimates but the fourth quarter and full-year guidance disappointed investors.

NVDA NVIDIA Vertex AI

NVIDIA (NVDA) Third Quarter Earnings

Nvidia reported third-quarter earnings figures disappointing investors in EPS but the revenue beat expectations. Nvidia’s revenue came to $5.93 billion, beating the analyst’s expectations of $5.80 billion.