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Rivian Automotive Inc (NASDAQ:RIVN) shares are up 9.97%, trading at $15.16 during Thursday’s session, buoyed by early market strength. Rivian reported its second-quarter financial results on Tuesday, revealing both encouraging developments and ongoing challenges as the electric vehicle maker strives toward profitability.
Additionally, several analysts revised their ratings following the earnings report.
The company generated $1.16 billion in revenue, slightly exceeding the Street's consensus estimate of $1.13 billion. However, Rivian’s adjusted earnings per share showed a loss of $1.46, which was larger than the anticipated loss of $1.21 per share.
During the quarter, Rivian produced 9,612 vehicles and delivered 13,790, underscoring the company’s efforts to scale its operations. CEO RJ Scaringe emphasized the quarter as a “defining” period for the company, marked by significant progress in cost efficiency, product improvement, and balance sheet strengthening.
Rivian ended the quarter with $7.9 billion in cash and cash equivalents, with total liquidity reaching $9.2 billion, bolstered by a $1 billion unsecured convertible note from Volkswagen as part of a planned joint venture…Read More
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Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Rivian Automotive’s case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
According to data from Benzinga Pro, RIVN has a 52-week high of $25.73 and a 52-week low of $8.26.
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