On July 15, Rivian Automotive rose 5.37% in regular trading, trading at $18.375/share, with turnover of approximately $98.22 million. The stock has continued to recover following the completion of its 75 million share public offering priced at $15.50 per share on July 8.

The rebound is supported by multiple investment bank upgrades. UBS raised its price target to $17 from $16 while maintaining a Neutral rating, and Jefferies also lifted its target to $17. JPMorgan raised its target significantly from $9 to $15. Institutional buying has driven the stock well above the $15.50 offering price as dilution-related selling pressure has been absorbed. The offering raised approximately $1.2 billion in gross proceeds, with net proceeds estimated at $1.32 billion including the overallotment option, earmarked for equity contributions tied to the companys Department of Energy loan agreement.

Fundamentally, Rivian reported Q2 deliveries of 12,194 vehicles, exceeding Wall Street expectations of approximately 10,600 units. The company raised its full-year delivery guidance to 65,000-70,000 vehicles from 62,000-67,000, reinforcing improving operational momentum ahead of its July 30 earnings report.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)