RIVN
Rivian just gave the EV tape a jolt
Rivian came in hot on Thursday morning, reporting second-quarter deliveries of 12,194 vehicles after producing 12,613 — comfortably above Wall Street’s roughly 11,000 estimate and even above Rivian’s own earlier 9,000-to-11,000 guide. That’s not just a beat; that’s a little “surprise, we’ve got momentum” moment.
The real kicker: the outlook got better
The company also lifted its 2026 delivery forecast to 65,000–70,000 vehicles from 62,000–67,000. In investor-land, that’s the part that matters most: one good quarter is nice, but a better full-year path is what gets people leaning forward in their chairs.
Rivian said the stronger numbers were driven by:
- electric delivery vans
- the R1T pickup and R1S SUV
- first customer deliveries of the midsize R2 SUV
It’s also still ramping production in Normal, Illinois, where the plant has room for about 160,000 vehicles a year. Translation: there’s still a lot of runway if demand keeps cooperating.
Why an ETF suddenly looked like a rocket ship
This is where the ETF drama comes in. The GraniteShares 2x Long RIVN Daily ETF (RVNL) jumped more than 20% because it’s basically Rivian on espresso — it’s designed to deliver twice Rivian’s daily move. So when Rivian rips, RVNL can look absurdly powerful, while broader EV funds like KARS and DRIV barely flinch because they’re spread across a bunch of unrelated names.
Rivian is scheduled to report second-quarter financial results on July 30, which should tell investors whether the delivery strength is showing up in margins and cash burn too. Big picture: when a stock gets a clean delivery beat plus a raised outlook, the market tends to stop doomscrolling and start paying attention.