{"id":30883,"date":"2023-07-03T14:00:13","date_gmt":"2023-07-03T18:00:13","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/rivian-stock-surges-over-17-as-ev-manufacturer-beats-second-quarter-delivery-estimates\/"},"modified":"2023-07-03T14:00:15","modified_gmt":"2023-07-03T18:00:15","slug":"rivian-stock-surges-over-17-as-ev-manufacturer-beats-second-quarter-delivery-estimates","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=30883","title":{"rendered":"Rivian Stock Surges Over 17% As EV Manufacturer Beats Second Quarter Delivery Estimates"},"content":{"rendered":"<div>\n<h2 class=\"topline-heading\">Topline<\/h2>\n<p>Rivian\u2019s stock closed up more than 17% Monday after revealing it sailed over Wall Street expectations on electric vehicle deliveries, notching 12,640 deliveries in its second quarter.<\/p>\n<h2>Key Facts<\/h2>\n<div class=\"key-facts\">\n<div class=\"key-facts-element\">\n<p>The company\u2019s stock peaked at $19.69 Monday, eventually closing up more than 17% at $19.56\u2014a figure Rivian has not reached since February.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The increase in share price continues a large upswing that began after June 26, when shares of Rivian closed at $13.45.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>The 12,640 deliveries made by Rivian in the second quarter beat Visible Alpha estimates of 11,000 vehicles.<\/p>\n<\/p><\/div>\n<div class=\"key-facts-element\">\n<p>In that same period, the EV producer made 13,992 vehicles, exceeding first quarter production by more than 4,500 units.<\/p>\n<\/p><\/div>\n<\/div>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Key Background<\/h2>\n<p>Rivian, which produces electric pickups and SUVs, has experienced a mostly struggling stock so far this year, trading as low at $12 a share in late April. The company has posted weak revenue figures this year and lost $6.8 billion last year as production numbers failed to grow. However, Monday\u2019s trading day put the company\u2019s stock up nearly 3% on the year. Last month, Rivian followed Ford and GM\u2019s lead when it announced Tesla\u2019s Supercharger network would become available to Rivian owners, and that Tesla charging ports will be incorporated into its vehicles starting in 2025.<\/p>\n<p><fbs-ad position=\"inread\" progressive=\"\" ad-id=\"article-0-inread\" aria-hidden=\"true\" role=\"presentation\"><\/fbs-ad><\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">Tangent<\/h2>\n<p>Fellow EV producer Tesla announced Sunday it delivered more than 465,000 vehicles globally during the second quarter. Like Rivian, the company\u2019s stock increased significantly Monday, closing up nearly 7% at $279.82.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\">What To Watch For<\/h2>\n<p>The second quarter production figures released by the company were published independently from its second quarter financial results, which will arrive after market close on August 8. Rivian said in a statement it believed it was on track to deliver on the 50,000 annual production guidance it previously issued.<\/p>\n<h2 class=\"subhead-embed color-accent bg-base font-accent font-size text-align\"><\/h2>\n<p>Washington State Wants To Mandate Tesla\u2019s Charging Plug For EV Stations\u2014Days After Texas Did The Same (<em>Forbes<\/em>)<\/p>\n<p>Rivian beats estimates for second-quarter EV deliveries, shares jump (Reuters)<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.forbes.com\/sites\/antoniopequenoiv\/2023\/07\/03\/rivian-stock-surges-over-17-as-ev-manufacturer-beats-second-quarter-delivery-estimates\/\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Topline Rivian\u2019s stock closed up more than 17% Monday after revealing it sailed over Wall Street expectations on electric vehicle deliveries, notching 12,640 deliveries in its second quarter. Key Facts The company\u2019s stock peaked at $19.69 Monday, eventually closing up more than 17% at $19.56\u2014a figure Rivian has not reached since February. The increase in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":30884,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-30883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Rivian Stock Surges Over 17% As EV Manufacturer Beats Second Quarter Delivery Estimates | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Topline Rivian\u2019s stock closed up more than 17% Monday after revealing it sailed over Wall Street expectations on electric vehicle deliveries, notching\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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