RIVN
Nice quarter, wrong vibe
Rivian just turned in a pretty decent flex: third-quarter production hit 19,751 vehicles and deliveries reached 19,248, both well above last quarter and a lot better than a year ago. The company also said it’s still sticking with its full-year delivery target of 65,000 to 70,000 vehicles.
The problem? The market wanted the next level
Here’s the annoying part if you’re a shareholder: the numbers were strong enough to keep the story moving, but not strong enough to make management lift the full-year guide. That’s the kind of move that makes traders sigh dramatically into their coffee. Rivian shares fell about 3.7% even after the beat.
Why investors still care
The good news is the R2 launch looks like it’s helping the ramp, and management seems to think the production machine is still on schedule. The bad news is the EV backdrop is getting less friendly, with tax credits fading, tariffs hanging around, and demand not exactly throwing confetti.
Big picture
Rivian is showing progress, but the stock is still in that dreaded “prove it” phase. Investors are clearly waiting for the company to do more than just hit the target — they want to see it beat it, then maybe high-five the outlook too.