Shares of Rivian Automotive, Inc. (RIVN) plummeted 5.06% in Monday's trading session, as investors brace for the electric vehicle maker's first-quarter 2025 earnings report scheduled for release after the market close on Tuesday. The sharp decline comes despite the company's announcement of a significant investment in its supply chain infrastructure.
The sell-off appears to be driven by pre-earnings jitters, with market participants possibly concerned about Rivian's financial performance and production targets amid ongoing challenges in the EV sector. Analysts will be closely watching key metrics such as vehicle deliveries, revenue growth, and cash burn rate when the company reports its results.
In a separate development, Rivian announced plans to invest approximately $120 million in building a supplier park near its manufacturing plant in Normal, Illinois. The project is expected to create nearly 100 new Rivian jobs and several hundred supplier jobs over the next two years, potentially strengthening the company's production capabilities. However, this positive news seems to have been overshadowed by the looming earnings report and broader market sentiment towards EV stocks.
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