Rivian Automotive (RIVN, Financial) shares experienced a significant drop, with the stock falling by 7.05% following the company's announcement of revisions to its vehicle production forecasts due to part supply shortages. This adjustment affected both consumer R1 models and commercial delivery vans, though the decrease is not attributed to a lack of demand.Rivian announced a revised production forecast of 47,000 to 49,000 electric vehicles (EVs) for the year, down from the previous estimate of 57,000 units ...

Rivian has a supply problem.Rivian Automotive (RIVN -7.00%) stock is ending the week with a thud. Shares tanked Friday morning after the company provided its third-quarter vehicle delivery update and revised its 2024 production guidance.Rivian shares plunged as much as 8% when the company notified investors of a part supply shortage issue. The stock remained lower by 7.3% as of 10:30 a.m. ET.Production issue, not demandRivian said it now expects to manufacture between 47,000 and 49,000 electric vehicles (EV ...

Shares of U.S. electric vehicle startup Rivian Automotive (RIVN, Financial) declined after the company announced third-quarter vehicle deliveries fell short of analyst expectations. In addition, Rivian has revised its 2024 annual production forecast downwards. The target has been adjusted from 57,000 vehicles to a range of 47,000 to 49,000 vehicles.The company attributed the reduction in production targets to disruptions caused by shortages of shared components affecting the manufacturing of its R1 vehicles ...

Shares of Rivian Automotive dropped about 8% during premarket trading Friday after the electric vehicle startup delivered fewer vehicles in the third quarter than analysts had expected and lowered its annual production forecast for 2024.The company said the lower production target — down from 57,000 units to between 47,000 and 49,000 — was because of a "production disruption due to a shortage of a shared component" for its R1 vehicles and commercial van."This supply shortage impact began in Q3 of this year, ...

Rivian (RIVN, Financial) experienced a 6.3% decline in pre-market trading, approaching its lowest point in over four months. This drop follows the electric vehicle manufacturer's announcement of production disruptions, leading to a reduced delivery forecast for the year.For the third quarter ending September 30, Rivian reported deliveries of 10,018 vehicles, marking a 35.6% decrease compared to the previous year. Production fell by 19.3% to 13,157 vehicles. The company attributed these disruptions to a shor ...

Rivian says it will build fewer vehicles this year than it did in 2023, the result of a supply chain problem that popped up in the third quarter that has “become more acute in recent weeks.”The company did not specify what specific component is impacted. It only said that it is one shared by its R1 platform (which powers its pickup and SUV) and the RCV commercial van, and that it is located in the electric motors. The result is that Rivian now expects to finish 2024 having built between 47,000 and 49,000 ve ...

The electric vehicle maker has massive upside potential, but how have shares performed recently?There's no doubt about it: Rivian (RIVN 1.92%) stock has massive long-term upside potential. Its current market cap is just $13 billion -- $800 billion less than its biggest competitor in the electric vehicle (EV) space, Tesla. With new mass-market models on the way, we could see Rivian's valuation soar over the coming years. But how have the shares performed since the company went public roughly three years ago? ...

Rivian has a lot going for it, but one task assigned to the R2 will be a massive undertaking.Rivian (RIVN 3.85%) has a lot going for it right now. The company is charging ahead toward positive gross profits in the fourth quarter, starting a pre-owned program to generate new revenue, expanding its leasing program, building delivery vans for Amazon and AT&T, and most of all preparing its upcoming product pipeline of the R2, R3, and R3X, among other things. Despite the excitement surrounding the R2, there's a ...

This could be the biggest five-year stretch in Rivian's history.A lot has changed for Rivian (RIVN 3.85%) over the last five years. And there could be even more change to come over the next five years. Right now could be an incredible time to invest in this up-and-coming electric vehicle (EV) maker. Here are two major events to expect in the near future.This major catalyst could happen very soonIt's no secret that manufacturing cars is a capital intensive business. It takes billions of dollars to design a v ...

Rivian has managed to create a strong brand, among other factors that make it a stock to buy.While electric vehicle (EV) sales growth in the U.S. hasn't been as explosive as anticipated, the truth is that EVs are here to stay and are poised to boom in the years ahead. If you're buying into the long-term EV thesis, it's compelling to try to find the next Tesla-like investment.Here are a few reasons EV maker Rivian Automotive (RIVN 1.27%) could be next in line to make a name for itself in this budding industr ...