Rivian Automotive RIVN Stock Price, News & Analysis

what is rivian trading at

Until the quarterly period ended Sept. 30, 2021, the company had not produced or delivered any vehicles and thus had not generated substantial revenue. It delivered its first 11 R1Ts in September 2021, having produced a total of 12 during the quarter. The company said that these deliveries generated estimated revenue of between $0 and $1 million for the three-month period ended Sept. 30, 2021.

  1. You can obtain Rivian’s investor relations material in the Investors section of our website.
  2. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly.
  3. Shares of EV-maker Tesla, the most valuable automobile company in the world, fell nearly 3% during the same period, between the debut of Rivian’s shares and close of trading on Friday.
  4. The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles.

While both companies operate within the market for EVs, Rivian’s niche is all-terrain vehicles whereas Tesla’s specialty is sedans and SUVs. Ford, which has been focusing on expanding sales of EVs and has a nearly 12% stake in Rivian, saw its shares fall about 1% over the roughly three days of trading. The startup wants to make as many as 1 million vehicles per year by 2030 and says it will have all three different vehicles in production by the end of this year. It plans to sell non-delivery versions of its van to other customers within the next two years. It’s even searching for a location to build a second factory in addition to the one it operates in Normal, Illinois.

The company produces and has begun delivery of its first-generation consumer vehicle, which is a two-row, five-passenger pickup truck named the R1T. Later this year it plans to begin delivering a three-row, seven-passenger SUV named the R1S. These vehicles are equipped with a set of advanced https://www.day-trading.info/ technology systems and are designed to accommodate consumers with active lifestyles. Rivian also plans to launch an electric delivery van (EDV) for business customers. 23 Wall Street analysts have issued “buy,” “hold,” and “sell” ratings for Rivian Automotive in the last year.

(RIVN) raised $9.1 billion in an initial public offering on Wednesday, November 10th 2021. The company issued 153,000,000 shares at a price of $57.00-$62.00 per share. Originally founded in 2009, Rivian spent nearly a decade operating in stealth mode. CEO and founder RJ Scaringe initially wanted to make an electric sports car more or less similar to the Tesla Roadster. But he nixed that plan along the way and shifted the company toward developing an electric pickup truck and an SUV.

The vehicle comes with a 240 to 400-mile range depending on the battery and motor combination and individual driving styles. In regard to its capabilities, the truck can go from 0 to 60 in 3 seconds, tow up to 11,000 pounds, and wade through 3 feet of water with no problems. Rivian estimates that its net loss for the recent quarterly period was between $1.2 billion and $1.3 billion. Those quarterly losses were more than four times larger than the same quarter a year earlier. The company indicated that its operating expenses have increased over the last eight quarters as the development of its R1T, R1S, and EDV vehicle programs continues to advance.

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The company was founded in 2009 and is based in San Jose, California. Rivian is among the greenest of the EV makers choosing to achieve carbon neutrality well ahead of the Paris Climate Accord timeline. Shares of EV-maker Tesla, the most valuable automobile company in the world, fell nearly 3% during the same period, between the debut of Rivian’s shares and close of trading on Friday.

what is rivian trading at

The R1T is a highly configurable pickup while the R1S is an off-road capable SUV. The R1T is hailed as the world’s first EV adventure vehicle, it began production in early 2021 and the first deliveries were https://www.forex-world.net/ made later that same year. By mid-2022 the company had delivered more than 8,000 vehicles with production ramping quickly. Rivian Automotive, Inc. is an OEM EV manufacturer focused on pickup trucks and SUVs.

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That by exploring more responsibly today, we can preserve the environment for the generations that come after us. Achieving this requires real innovation, collaboration and stewardship. And by offering products and services that inspire people to explore and enjoy our world, we hope to also inspire them to want to protect it. Rivian’s total book value, the difference between its assets and liabilities, was $5.5 billion as of June 30, 2021.

You can obtain Rivian’s investor relations material in the Investors section of our website. On the date of publication, Joel Baglole did not hold any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. / Sign up for Verge Deals to get deals on products we’ve tested sent to your inbox daily.

The broader U.S. equity market, as measured by the S&P 500, was basically flat over the same period. The size of the IPO and the rapid rise in Rivian’s stock price reflects investors’ excitement about the EV market, especially for startups seeking to develop EVs that compete with traditional automakers. Either way, the splashy debut is sure to draw a lot of attention to the startup and its electric vehicles. It has also provided Rivian with a crucial windfall, as it needs a lot of money to grow — and survive — in the notoriously cash-hungry automotive business. Rivian lost $994 million in the first six months of 2021 alone and has said in regulatory filings that it expects to spend another $8 billion by the end of 2023.

what is rivian trading at

This suggests a possible upside of 87.9% from the stock’s current price. View analysts price targets for RIVN or view top-rated stocks among Wall Street analysts. The company offers five-passenger pickup trucks and sports utility vehicles under the R1T and R1S labels.

Total cash and cash equivalents on the company’s balance sheet at the end of the June were $3.7 billion. As investors get ready to grab shares of the company, we look at several important things investors should know about Rivian Automotive. With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio. Upgrade to MarketBeat All Access to add more stocks to your watchlist. The Rivian R1S began production in 2022 and began deliveries later that year.

Red Alert: Why Rivian Stock Is Another EV ‘No Go’

The company designs, develops, manufactures, and sells electric adventure vehicles and accessories through direct sales to consumers and commercial markets. The company vehicles are designed for sustainability and long lifespans across all components https://www.investorynews.com/ with repairability and reusability key to the end result. That includes engineering specifications such as easily removable batteries and batteries that can be easily recycled or repurposed into stationary power packs when their EV lifespan is spent.

Gradually, it will then begin to generate more substantial revenue from offering value-added services spanning the lifecycle of its vehicles, which will deepen its relationship with customers. Come along for a virtual tour of our state-of-the-art manufacturing facility in Normal, Illinois. Watch as Rivian founder and CEO RJ Scaringe walks you through each shop to explain how we’re making progress in producing electric vehicles at scale. The R1T comes with 8 different drive modes geared for offroading, city adventures, and everything in between. Among the choices is the “Drift” mode which proactively distributes power to offset traction control and increase the “fun” factor.

The R1S comes with a 260 to 320-mile range and can also wade through 3 feet of water. The R1S also boasts the ability to rock crawl up a 100% incline or 45-degree slope. Rivian has never declared or paid any cash dividends on our capital stock, and does not anticipate declaring or paying any dividends in the foreseeable future.

Rivian Automotive (RIVN) Stock Price, News & Analysis

The company has been able to finance its operations primarily through the sale of securities and from borrowing. The electric vehicle maker priced its IPO at $78 today, giving the company a valuation of $66.5 billion. Based on its IPO price, Rivian will raise $11.9 billion from its debut. One of the most anticipated initial public offerings of the year takes place today as Rivian Automotive makes its market debut. Rivian Automotive’s stock was trading at $23.46 at the beginning of the year.

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