NEW YORK, July 09, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Rivian Automotive, Inc. (NASDAQ: RIVN). Shareholders who purchased shares of RIVN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/rivian-automotive-inc-loss-submission-form-2/?id=89655&from=3 CLASS PERIOD ...

Shares of Rivian Automotive (NASDAQ:RIVN) are rallying hard after the electric vehicle startup received some good news. However, even a near 30% gain can’t cover-up the fundamental problems with Rivian stock.Rivian stock has increased 28% since mid-June on news that German automotive giant Volkswagen (OTCMKTS:VWAPY) is investing up to $5 billion in the electric vehicle maker. Investors have responded strongly to news of the Volkswagen partnership and cash infusion, but the recent rally can’t paper over the ...

Management Changes - Rivian's Chief Accounting Officer (CAO) Jeff Baker will resign on July 27, 2024, to pursue other opportunities [1] - Baker's resignation is not due to any disagreement with the company regarding financial reporting, operations, policies, or practices [1] - Chief Financial Officer Claire McDonough will serve as interim CAO while Rivian searches for a permanent replacement [2] Insider Activity - Jeff Baker sold 31,425 shares at an average price of $13.18 on March 11, 2024, totaling $414,219, leaving him with 52,415 shares [1] - Rivian insiders have sold $2.5 million worth of shares over the past year with no insider purchases [1] Production and Delivery Performance - Rivian's Q2 2024 deliveries increased by 9.1% to 13,790 vehicles, surpassing analyst estimates by 14.9% [2] - Production declined by 31.3% to 9,612 vehicles due to a month-long shutdown in April for facility upgrades [2] - The company expects a 30% improvement in production efficiency following the upgrades [3] Production Guidance and Catalysts - Rivian reiterated its 2024 production guidance of 57,000 vehicles [3] - As of June 30, 2024, Rivian has produced 23,952 vehicles, requiring an additional 33,048 vehicles to meet its annual target [3] - The company will report its Q2 2024 earnings on August 6, 2024 [3]

Many themes have been present in the market over the last several years, keeping investors busy and trying to find the next ‘big thing.’ In particular, the dominant story over the previous year has been the AI frenzy, causing many related stocks to see outsized moves.But recently, the EV theme has regained some life, with stocks such as Tesla (TSLA) and Rivian Automotive (RIVN) enjoying strong price action following solid delivery numbers.Let’s take a closer look at what’s been driving the share outperforma ...

Key TakeawaysRivian shares jumped Tuesday after the electric vehicle maker reported positive second-quarter production and delivery figures.Rivian's numbers surpassed analysts' expectations, and the company also affirmed its production goals for the full fiscal year.Tesla's production and delivery numbers also beat expectations Tuesday morning, as did some of the U.S. EV companies' Chinese competitors that have reported figures recently. Shares of Rivian (RIVN) rose Tuesday after the electric vehicle (EV) m ...

Shares of Rivian (NASDAQ:RIVN) stock are in the green by 7.5% after the electric vehicle (EV) company announced its second-quarter production and deliveries.Rivian produced 9,612 vehicles compared to 13,992 vehicles a year ago, signaling a drop of 31.3%. On the bright side, the company reaffirmed its 2024 production guidance for 57,000 vehicles. Production for 2023 totaled 57,232 vehicles.Rivian delivered 13,790 vehicles, up by 9.1% compared to 12,640 vehicles year-over-year. Analysts were expecting 12,000 ...

NEW YORK, July 02, 2024 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Rivian Automotive, Inc. ("Rivian " or the "Company") (NASDAQ: RIVN) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rivian investors who were adversely affected by alleged securities fraud between August 12, 2022 and February 21, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/rivian-automotive-i ...

Investors were happy to see Rivian's vehicle production and deliveries outpace the company's estimates.Share prices of the electric automaker Rivian Automotive (RIVN 4.60%) were rising Tuesday after the company released second-quarter delivery numbers that were better than expected. The good news comes on the heels of a new joint venture with Volkswagen that's worth up to $5 billion for Rivian.Rivian's stock price was up by as much as 6.5% Tuesday and was trading 4.2% higher as of noon EDT.Deliveries topped ...

Electric vehicle (EV) maker Rivian (NASDAQ:RIVN) had its price target raised by RBC Capital following its deal with Volkswagen (OTCMKTS:VWAGY).The German auto giant formed a joint venture with the American company that could be worth $5 billion. Volkswagen is putting $1 billion of cash into Rivian and forming a joint venture around its technology both companies will draw from.The deal initially sent RIVN stock up 25%, but it has since fallen back. It opened today at $14.26 per share, with a market capitaliz ...

U.S. electric vehicle (EV) maker Rivian Automotive (RIVN) hogged the limelight last week with two major developments. First, it announced a massive deal with Germany-based auto giant Volkswagen (VWAGY) . Second, it held its 2024 Investor Day, focusing on its plans for cost-cutting and production efficiency.Shares of Rivian got an immediate boost from a capital injection decision by Volkswagen, with shares rallying 23% the following day. By the end of the week, the stock erased some of the gains as investors ...