Rivian: Shares Fall as Deliveries Decline
Rivian reported a significant decline in fourth-quarter and full-year 2025 deliveries, causing a 3% drop in share price. This decline is attributed to the expiration of the US EV tax credit, though the company anticipates a rise in 2026 deliveries with the launch of the new R2 midsize SUV. Morningstar maintains an "overvalued" rating for Rivian stock, citing concerns about 2026 expectations and projected negative free cash flow for several years.
https://www.morningstar.com/stocks/rivian-shares-fall-deliveries-decline