Rivian Releases Q4 2023 and Full-Year 2023 Production Figures and Sets Date for Fourth Quarter and Full Year 2023 Results
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Wolfe downgrades Rivian (RIVN) ahead of R1 production ramp
January 4, 2024 10:04 AM ESTWolfe Research downgraded Rivian Automotive (NASDAQ: RIVN) to Peer Perform (From Outperform) and removed their $33.00 price target on the stock as the company prepares to ramp R1 capacity at their facility in Normal, IL.
During 2023, Rivian reached a significant turning point in its operations, overcoming production hurdles and increasing production from 9,400 vehicles in Q1 to 17,500 vehicles in Q4.
Analysts at Wolfe suggest that a majority of the... More
Rivian (RIVN) drops in pre-market following 4Q delivery miss
January 2, 2024 8:57 AM EST(Updated - January 2, 2024 10:00 AM EST)
Rivian Automotive's (NASDAQ: RIVN) stock experienced a nearly 6% drop in pre-market trading following the release of their latest quarterly production and delivery figures.
Rivian reportedly delivered 13,972 vehicles during the quarter, 10% lower than in the preceding three months, short of the anticipated 14,430 units. This decline is partly attributed to increased interest rates, which have elevated the monthly expenses for electric vehicles,... More
