Rivian hits its numbers, stock still slips

Rivian did the homework

Rivian’s Normal, Illinois plant produced 19,751 vehicles in the third quarter and delivered 19,248 to customers — basically a clean bullseye on its own outlook. The company also left its full-year delivery guidance unchanged at 65,000 to 70,000 vehicles for 2026.

So why is the stock red?

Because Wall Street loves a plot twist more than a perfectly landed stick. Even though the numbers were in line, RIVN shares were down 3.73% to $14.21 Friday. In other words: no surprise beats, no fireworks, and no reason for momentum traders to throw confetti.

The bigger picture

Rivian’s quarter was better than the prior one — production rose from 12,613 vehicles in Q2 and deliveries climbed from 12,194. That’s the kind of sequential improvement investors want to see, especially from a company still trying to prove it can scale without tripping over its own shoelaces.

Analyst opinions remain mixed, too. The average rating still leans Buy, but recent calls have been more cautious, with Citigroup at Neutral, RBC at Sector Perform, and Morgan Stanley at Underweight. Big picture: Rivian isn’t in trouble here, but it also hasn’t given bulls the juicy surprise they were hoping for.