RIVN Stock Recent News
RIVN LATEST HEADLINES
Rivian Automotive (NASDAQ: RIVN) has faced a turbulent 2024, with supply chain issues, production shortfalls, and broader EV market struggles weighing heavily on its stock.
In the closing of the recent trading day, Rivian Automotive (RIVN) stood at $10.15, denoting a -1.93% change from the preceding trading day.
Key Points: Rivian decrease their production from 57 000 to 47- 49 000 because of supply issues.
Rivian is focused on long-term growth, aiming to produce over 600K EVs annually by the end of the decade despite current production setbacks. Investors should not be swayed by short-term issues; Rivian's retooling and cost-reduction efforts are expected to improve gross margins and profitability. The company's production capacity has increased, and new vehicle models like the R2 and R3 will drive future growth and revenue.
Rivian Automotive cut its 2024 production forecast due to a parts shortage, but long-term growth prospects remain strong, making the current dip a buying opportunity. Despite missing 3Q24 delivery expectations, Rivian's substantial cash reserves (74% of market valuation) mitigate risk and support potential for a rebound. The overall EV market is robust, with strong sales from competitors like Ford, GM, and Tesla, indicating Rivian's issues are supply related, not demand-driven.
Rivian's 2nd Gen R1 platform will improve gross margins and grow deliveries. R1 Gen 2 sets the firm up well for its R2 launch in 2026 because they are based on the same tech. Rivian's cost savings will come from increased scale, changing suppliers, recent declines in commodities prices, increased vertical integration, and redesigning/using cheaper parts.
Rivian is expected to report earnings before Nov. 5. Here's why now is the time to buy.
Rivian Automotive (RIVN) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
A component shortage is putting a dent in the company's operations.
As one of the biggest brands in the electric world, Rivian's announcement about five new vehicles is giving current customers and those looking for a new EV model something to look forward to.