Rivian Raises Its Full-Year Delivery Forecast. Here’s Why the Stock Is Soaring.
The company anticipates shipping as many as 70,000 of its vehicles this year.
Overview
Electric vehicle (EV) company Rivian’s (NASDAQ:RIVN)stock accelerated impressively following its latest news about deliveries on Thursday. That all-important auto industry metric was significantly higher than expected, prompting the company to raise its full-year guidance. Investors rewarded this by pushing the shares up by more than 8% that trading session.
That morning, Rivian provided the delivery and production figures for its just-concluded second quarter. The period saw the EV company produce 12,613 vehicles, with deliveries totaling 12,194. The latter figure topped the company’s own forecast — actually, a better term might be “crushed,” as it was guiding for 9,000 to 11,000 for the period. It was also well above the second quarter 2025 number of 10,661 and first quarter 2026’s 10,365.
Image source: Getty Images,
Details
Source
Originally published at www.fool.com.