Rivian Q3 Deliveries Hit Record Despite Stock Drop
Rivian Automotive (RIVN) reported record third-quarter vehicle deliveries of 19,248, exceeding analysts' expectations of approximately 18,000. Despite the strong delivery numbers, the company's shares fell 1.8% on Friday morning, reversing pre-market gains. The market also reacted to commentary suggesting a sub-$50K R2 model could make Rivian a stronger competitor to Tesla.
Story updates
03:15:40 PM UTC
SquawkNews
By Al RootRivian not only hit third-quarter deliveries out of the park Friday. It kept its eye on its full-year guidance-and still it wasn't enough for the stock.In morning trading, shares were down 3.2% at $14.29. The S&P 500 was up 0.9%.Rivian reported quarterly sales of 19,248 vehicles, up 46% y…
8% lower Friday morning, even as the EV maker said third-quarter vehicle deliveries hit a record. Rivian reported 19248 vehicle deliveries in Q3, topping analysts’ expectations of about 18000 as the automaker co…