"Shares of Rivian Automotive Inc. ( NASDAQ: RIVN) are changing hands for 4.6% more than a week ago, slightly underperforming the Nasdaq. The company has announced it will lay off about 4.5% of its workforce due to weakening demand. It just rolled out its first fleet of electric Amazon delivery vans in Canada and opened its new East Coast headquarters in Atlanta. The share price is 24.3% higher than a year ago."
"Shares of EV manufacturer Rivian have been on a rollercoaster this year, surging and then falling after its first-quarter report. They have recovered somewhat since the second-quarter report. In the latest results, revenue was up slightly year over year and sequentially to $1.3 billion. However, the company also posted a wider-than-expected loss and widened its full-year loss projection due to tariffs and the loss of EV tax credits."
"Still, the stock is 30.3% higher since its year-to-date low in April, despite facing challenges from reduced delivery targets and tariff pressures. However, it is countering those headwinds with cost efficiencies, strategic partnerships, and the anticipated R2 SUV launch next year. 24/7 Wall St. conducted some analysis to give investors a better idea of where they can expect the stock to be in a year. Let's take a look at whether Rivian can overcome its hurdles and return to growth."
Rivian’s shares are modestly higher weekly and 24.3% above last year, but the stock remains far below its November 2021 IPO peak. The company will cut about 4.5% of its workforce amid softening demand and cited tariffs and the loss of EV tax credits as cost pressures. Q2 deliveries fell 22.7% year over year to 10,661 vehicles while revenue rose slightly to $1.3 billion. Rivian reported a wider-than-expected loss and widened full-year loss guidance. Management reaffirmed 2025 delivery guidance of 40,000–46,000 vehicles and plans cost efficiencies, partnerships, new East Coast HQ, Amazon van fleets, and the R2 SUV launch.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]