RIVIAN

**Rivian** reveals cost-saving shift in production location, reaffirms modest profit forecast in 2024

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Laguna Beach, California – Electric vehicle manufacturer Rivian reported a mixed first-quarter financial performance, with revenue slightly exceeding expectations but a higher-than-expected loss per share. Despite the quarterly results, Rivian anticipates cost savings from relocating R2 production to its plant in Normal, Illinois, and reducing its capital expenditure projections. The company also restated its full-year loss forecast and remains optimistic about achieving a “modest gross profit” by the fourth quarter of this year. A highlight …

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Price War Plunge: Rivian and Lucid Hit All-Time Lows as Ford Slashes Electric Pickup Truck Costs

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Detroit, Michigan – Electric vehicle startups Rivian Automotive Inc. and Lucid Group Inc. faced a significant challenge on Thursday as shares plummeted to all-time lows, following Ford Motor Co.’s decision to slash prices on its electric pickup truck. This move is part of an industry-wide price war on electric autos, reflecting concerns among investors about potential margin pressures. The price cuts by automakers like Ford, Tesla Inc., and General Motors Co. are aimed at stimulating …

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Upgrade: Wall Street’s Rave Reviews and Red Flags – Expert Calls on Rivian, Adobe, and More!

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New York, NY – Financial analysts across Wall Street have been making significant moves by upgrading, initiating, or reiterating their stances on various companies in different sectors. Piper Sandler upgraded Rivian to overweight, advising investors to take advantage of the recent dip in shares of the EV company. Boosting the company’s performance from neutral to overweight, the firm highlighted key factors that led to their decision. Meanwhile, Bank of America reiterated its buy rating on …

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Rivian Unveils Surprise R2 SUV, R3, and R3X Models, Investors Thrilled With $2 Billion in Savings

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Laguna Beach, California – Rivian Automotive, an electric vehicle (EV) maker, experienced a significant surge in their stock price following the unveiling of three new vehicles and the announcement of over $2 billion in savings linked to the temporary halt of construction on a plant in Georgia. CEO RJ Scaringe introduced the company’s upcoming R2 SUV along with two surprise additions – the R3 and R3X crossovers, a performance variant. The R2 is anticipated to …

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**RIVIAN** Stock Surges After Record Low: What’s Behind the Rebound?

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Irvine, California – Rivian Automotive, Inc. experienced a significant rise in their stock prices in premarket trading on Monday following a steep decline the previous week. The drop came after the electric vehicle startup reported 2024 deliveries guidance that fell short of market expectations, resulting in a 38% loss in stock value and record-low closure. Sell-side analysts responded by lowering their estimates and price targets for the company, with major downgrades from JPMorgan, UBS, and …

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Rivian and Lucid Stocks Plunge After Bleak Q4 Earnings – Are These EV Startups Doomed?

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BLOOMINGTON, Illinois – Electric vehicle startup stocks Rivian and Lucid faced a significant downturn early Thursday following the release of their fourth-quarter earnings and revenue. Both companies also announced that production would not be ramping up in 2024, contributing to the decline. On Wednesday, Rivian reported a loss of $1.36 per share in Q4 and sales doubling to $1.31 billion. This fell just short of Wall Street’s expected loss of $1.35 and revenue totaling $1.28 …

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Layoffs Hit Rivian: What it Means for the Electric Vehicle Industry

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NORMAL, Illinois – Electric vehicle company Rivian has announced that it will be laying off 10% of its salaried workforce, in addition to cutting a limited number of non-manufacturing hourly employees, as a part of its cost-cutting measures. The company’s CEO, RJ Scaringe, stated that these measures are necessary due to the increasingly challenging market for electric vehicles. This is the third round of layoffs for Rivian since July 2022, when the company initially cut …

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ELECTRIC VEHICLE GIANT RIVIAN STOCK PLUMMETS 15% AFTER Q4 RESULTS MISS EXPECTATIONS

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Irvine, California – Rivian’s stock price plummeted after reporting a disappointing fourth quarter and an underwhelming production and profit forecast for the year. The electric adventure vehicle maker fell short of Wall Street’s expectations, projecting 57,000 units for 2024, well below the anticipated 80,000 units. In addition to the production forecast shortfall, Rivian’s adjusted EBITDA loss is expected to be $2.70 billion, while capital expenditure outlays are projected to hit $1.75 billion. The company also …

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