Rivian Automotive shares surge over 12% after raising full-year delivery guidance
Stock News
Jul 02
Rivian Automotive, Inc. (RIVN.US) shares experienced a significant rally on Thursday, with gains extending to 12.1% at the time of writing. The stock has shown strong momentum over the past week, climbing more than 23%.
The electric vehicle manufacturer reported second-quarter deliveries of 12,194 EVs, surpassing Wall Street expectations of approximately 10,600 units.
In a statement, the company also raised its full-year delivery outlook, now anticipating it will deliver between 65,000 and 70,000 vehicles this year.
Rivian indicated that it achieved robust quarter-over-quarter growth in sales of its commercial vans and R1 series electric vehicles, as its new R2 electric SUV begins to reach customers.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.