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Rivian Automotive Inc. ($RIVN) Stock Forecast: Down 5.3% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Rivian Automotive Inc.?

Rivian Automotive (NASDAQ: RIVN) is an electric vehicle (EV) company that has recently gained attention for its partnership with Volkswagen and its upcoming R1S off-road SUV. The stock has experienced significant volatility since its IPO in 2021.

Why is Rivian Automotive Inc. going down?

RIVN stock is down 5.3% on Jul 19, 2024 16:46

  • Rivian stock had a bearish movement despite positive developments like a partnership with Volkswagen and a price target increase by Wells Fargo.
  • Analysts are concerned about Rivian's widening losses per share, which may have contributed to the bearish trend.
  • The skepticism from Elon Musk towards Rivian, despite positive feedback for its R1S SUV, may have also influenced investor sentiment.
  • Competition in the EV market, as demonstrated by Tesla's Cybertruck outselling Rivian's R1T truck, could be exerting pressure on Rivian's stock price.

RIVN Price Chart

RIVN News

RIVN Red Alert: Prepare to Sell Rivian Stock by August 2024

Rivian Automotive (NASDAQ:RIVN) stock has doubled from its April lows and now sits where it was back in January. Shares are roaring ahead following its partnership with Volkswagen (OTCMKTS:VWAGY), which could see the German automaker invest as much as $5 billion in the electric SUV company.  Wall Street is also upbeat on Rivian. TipRanks shows a bullish outlook and a consensus one-year price target of $17, suggesting the stock is fairly valued. Canaccord analyst George Gianarakis, however, raised his price target last month to $30 a share and calls the Volkswagen deal “monumental.” Yet analysts also expect Rivian’s earnings to worsen at the beginning of August. Losses per share are expected to widen to $1.27 from $1.05 per share last year. If the EV maker can pull off an upset and show improvement, the stock could rally higher. It might even retest last December’s high of $28 a share. Although Rivian stock remains 90% below its peak following its 2021 IPO, the EV company is arguably in the best position financially it has ever been. So, if Rivian stock does roar forward, that would be an excellent time to take your money off the table.

https://investorplace.com/2024/07/rivn-red-alert-prepare-to-sell-rivian-stock-by-august-2024/

News Article Image RIVN Red Alert: Prepare to Sell Rivian Stock by August 2024

Elon Musk's Rivian Scepticism Aside, Tesla-Investor Praises R1S Off-Road SUV: 'It's A Great Vehicle' - Tesla ( NASDAQ:TSLA ) , Rivian Automotive ( NASDAQ:RIVN )

Ross Gerber, a prominent Tesla Inc. TSLA investor, and CEO of Gerber Kawasaki Wealth and Investment Management, has voiced his support for rival electric vehicle manufacturer Rivian Automotive Inc. RIVN.

https://www.benzinga.com/markets/equities/24/07/39852648/elon-musks-rivian-scepticism-aside-tesla-investor-praises-r1s-off-road-suv-its-a-great-vehicle

News Article Image Elon Musk's Rivian Scepticism Aside, Tesla-Investor Praises R1S Off-Road SUV: 'It's A Great Vehicle' - Tesla  ( NASDAQ:TSLA ) , Rivian Automotive  ( NASDAQ:RIVN )

Wells Fargo Just Raised Its Price Target on Rivian (RIVN) Stock

Rivian (NASDAQ:RIVN) stock is just barely in the green today despite Wells Fargo increasing its price target by 80%. The bank raised the electric vehicle (EV) maker’s price target to $18 per share from $10 while maintaining its “equal weight” rating on the stock. The bank’s changing tune towards Rivian is seemingly the product of a slightly better projected EBITDA loss in its second quarter of $757 million. That’s compared to FactSet’s current consensus of an $859 million loss. This in itself is the result of Rivian’s stronger-than-expected delivery numbers. “Rivian’s Q2 deliveries of about 13,800 beat [the] guide of about 13,200,” wrote Wells Fargo’s Colin Langan, noting that the company’s inventories are stronger and that he is encouraged by the company’s new R2 vehicle platform, set to hit roads in 2026. That said, Wells Fargo remains pessimistic over other aspects of the company’s expected financial results this year. Indeed, for fiscal 2024, the bank expects the company’s adjusted earnings to come in 7% below consensus estimates and Rivian’s own guidance.

https://investorplace.com/2024/07/wells-fargo-just-raised-its-price-target-on-rivian-rivn-stock/

News Article Image Wells Fargo Just Raised Its Price Target on Rivian (RIVN) Stock

Tesla Cybertruck Outsells Ford F-150 Lightning And Rivian R1T Combined In May Despite Price Premium - Ford Motor ( NYSE:F ) , General Motors ( NYSE:GM )

Tesla Inc's TSLA Cybertruck outsold Ford Motor Co's F F-150 Lightning and Rivian Automotive's RIVN R1T truck to become the most sold American-made EV truck in the U.S. in the month of May, as per vehicle registration data.

https://www.benzinga.com/news/24/07/39838562/tesla-cybertruck-outsells-ford-f-150-lightning-and-rivian-r1t-combined-in-may-despite-price-premium

News Article Image Tesla Cybertruck Outsells Ford F-150 Lightning And Rivian R1T Combined In May Despite Price Premium - Ford Motor  ( NYSE:F ) , General Motors  ( NYSE:GM )

Faraday Future Stock Is a High-Risk Buy Ahead of Its Investor Day

Critics of Faraday Future Intelligent Electric (NASDAQ:FFIE) are quick to say that “Faraday has no future.” However, while the Faraday Future stock price has fallen right into Wall Street’s junkyard heap, this bleak statement is not entirely accurate. Despite setbacks and heavy losses, Faraday has kept the lights on. It’s not completely out of the running yet, despite being down by a significant margin. That’s not all. Recent EV developments increase the company’s chances of success. As it stands now, even an ounce of operational improvement could go a long way to send FFIE stock back to substantially higher prices. For those with a high enough risk appetite, there may be merit in holding a speculative position.

https://investorplace.com/market360/2024/07/faraday-future-stock-is-a-high-risk-buy-ahead-of-its-investor-day/

News Article Image Faraday Future Stock Is a High-Risk Buy Ahead of Its Investor Day

Rivian Automotive Inc. Price History

19.06.2024 - RIVN Stock was down 5.3%

  • Rivian stock had a bearish movement despite positive developments like a partnership with Volkswagen and a price target increase by Wells Fargo.
  • Analysts are concerned about Rivian's widening losses per share, which may have contributed to the bearish trend.
  • The skepticism from Elon Musk towards Rivian, despite positive feedback for its R1S SUV, may have also influenced investor sentiment.
  • Competition in the EV market, as demonstrated by Tesla's Cybertruck outselling Rivian's R1T truck, could be exerting pressure on Rivian's stock price.

18.06.2024 - RIVN Stock was down 6.7%

  • Rivian's decline today might be linked to Tesla's Cybertruck outselling Rivian's R1T truck and Ford's F-150 Lightning in May. This strong performance by Tesla could have raised concerns among investors regarding Rivian's competitiveness in the EV truck market.
  • Furthermore, the mention of Faraday Future's high-risk profile and ChargePoint's challenges in the EV sector may have contributed to the pessimistic sentiment surrounding Rivian, prompting investors to exercise caution when considering investments in companies facing industry obstacles.
  • The prevailing optimistic stance towards EV stocks, as emphasized by the need to focus on promising EV companies, may have underscored Rivian's market underperformance today, leading to the downward trend.

17.06.2024 - RIVN Stock was down 5.2%

  • Rivian's bearish movement today could be attributed to profit-taking by investors after a recent price target increase, signaling a potential upside for the stock.
  • Despite positive developments such as a partnership with Volkswagen and a focus on becoming an auto/tech supplier, market conditions for EV stocks are facing challenges such as a price war and squeezed profit margins.
  • The overall market sentiment towards EV stocks seems cautious, with investors closely monitoring interest rate cut expectations and potential impacts on the sector's growth.
  • While there are still investment opportunities in the EV market, factors like tariffs on Chinese EV exports and competitive pressures could be contributing to the bearish movement in Rivian's stock today.

17.06.2024 - RIVN Stock was up 5.2%

  • Rivian's recent bullish movement is linked to strong Q2 deliveries exceeding expectations and confirmation of its 2024 production target of 57,000 vehicles, which has pleased investors.
  • Collaboration with Volkswagen and the optimistic sentiment towards the EV industry have also bolstered Rivian's stock performance.
  • While concerns about operational and production hurdles exist, Rivian's recent successes and partnerships have increased investor confidence in its future growth.
  • The market's interest in EV stocks amidst potential interest rate adjustments and the positive industry outlook have likely contributed to Rivian's current upward movement.

12.06.2024 - RIVN Stock was up 9.7%

  • Rivian's stock showed significant upward movement today, increasing by over 20% amid a rally in EV stocks.
  • An analyst raised Rivian stock's price target to $15 from $11, reflecting a positive outlook on the company's performance, particularly with June deliveries exceeding expectations.
  • The uptick in investor confidence in Rivian can be linked to the strong delivery numbers and the company's focus on cost reduction and growth strategies.
  • The positive sentiment in the EV sector, with companies like Rivian, Lucid Group, and Tesla gaining traction, has played a role in driving Rivian's stock price upward.

12.06.2024 - RIVN Stock was up 10.7%

  • An analyst raised the price target on Rivian stock, citing better-than-expected June deliveries and potential cost reductions on their vehicles.
  • The overall rally in EV stocks, including Rivian, was fueled by positive catalysts in the electric vehicle industry.
  • The news of successful robotaxi deployments in China and the potential for similar developments in the U.S. market contributed to the bullish sentiment around EV stocks, including Rivian.
  • Despite some concerns about Rivian's growth guidance for 2024, the overall market optimism and positive analyst outlook helped propel the stock higher today.

12.06.2024 - RIVN Stock was up 6.1%

  • Rivian's stock surged following a substantial investment by the Department of Energy to convert auto facilities into EV manufacturing plants, instilling confidence in investors regarding the future of the EV industry.
  • Despite the advantages of the collaboration with Volkswagen, concerns about the performance of Rivian's electric SUVs might have influenced investors' reactions, introducing a mix of sentiments towards the company.
  • The general optimism within the EV sector, driven by strong delivery numbers from various automakers, likely played a role in fostering positive attitudes towards Rivian and other EV-related stocks.
  • Growing enthusiasm for autonomous vehicles and robotaxis could have also contributed to the rise in Rivian's stock price, as investors anticipate potential growth opportunities in this developing field.

11.06.2024 - RIVN Stock was up 5.1%

  • Rivian experienced a strong bullish movement today, reaching $15.71 at the closing bell.
  • The bullish trend can be attributed to the recent partnership announcement with Volkswagen, which is expected to bring in significant investments and ownership stake for Rivian.
  • Despite the positive market movement, there are concerns about Rivian's actual performance in the EV sector, with modest growth in second-quarter deliveries and questions about the company's dual-track strategy.
  • The overall EV market is showing signs of life, with many automakers reporting robust deliveries, but individual company performance and strategic decisions are crucial factors influencing stock movements.

10.06.2024 - RIVN Stock was up 5.9%

  • Rivian's stock experienced a bullish movement, reaching $15.71 at the closing of the latest trading day, reflecting a +1.42% change compared to its last close.
  • The surge in Rivian's stock price could be attributed to the overall positive sentiment towards electric vehicle companies in the market.
  • Despite facing a class action lawsuit, the options frenzy surrounding Rivian suggests that investors, whether institutions or wealthy individuals, are taking a bullish stance on the company's future prospects.
  • The positive movement and the options frenzy indicate that investors are optimistic about Rivian's potential growth and success in the EV industry.

10.06.2024 - RIVN Stock was up 5.1%

  • Rivian saw a strong bullish movement today, aligning with a broader surge in the EV sector.
  • The rise in Rivian's stock price may be linked to the favorable sentiment surrounding EV stocks, mirrored by the recent upturn in Tesla, Lucid, and other firms that reported strong Q2 delivery results.
  • Within the competitive EV industry, marked by pricing competitions and tariffs on Chinese exports, companies are compelled to innovate and boost sales to maintain a competitive edge.
  • Despite concerns surrounding other EV firms such as Faraday Future and Lucid Group, Rivian's performance points to investor confidence in its growth prospects and ability to tackle market challenges.

09.06.2024 - RIVN Stock was up 5.2%

  • Rivian stock saw a 28% increase following Volkswagen's investment of up to $5 billion in the company, reflecting positive market sentiment towards the collaboration.
  • Despite the recent upswing, Rivian stock has been facing challenges since its IPO, with a 30% decline this year and a significant drop since entering the market, pointing to underlying issues.
  • The electric vehicle sector is fiercely competitive, with companies reducing prices to address decreasing demand and grappling with obstacles like tariffs on Chinese exports, creating a challenging landscape for players such as Rivian.
  • Investors are advised to exercise caution regarding the recent stock surge and evaluate Rivian's long-term sustainability in light of its past performance and industry difficulties.

03.06.2024 - RIVN Stock was up 5.1%

  • Rivian's decision not to produce vehicles with a certain company under their joint venture caused volatility in RIVN shares.
  • The deal with the mentioned company is seen as monumental, boosting Rivian's brand recognition and financial standing.
  • The partnership allows Rivian to delay additional cash raises, indicating a positive outlook for the company.
  • The continued popularity of Rivian's EVs, coupled with the undervaluation of RIVN stock, presents a compelling opportunity for investors to consider buying.

02.06.2024 - RIVN Stock was up 5.3%

  • Rivian's stock experienced a strong bullish movement today, rallying nearly 5% after the company reported robust Q2 vehicle delivery numbers.
  • The announcement of the joint venture with Volkswagen, which could be worth $5 billion, and the subsequent price target raise by RBC Capital also contributed to the positive sentiment surrounding Rivian.
  • The overall bullish movement in the EV sector, as evidenced by Tesla's (TSLA) positive second-quarter deliveries, also likely boosted investor confidence in Rivian's growth prospects.
  • The combination of strong operational performance, strategic partnerships, and sector-wide optimism propelled Rivian's stock higher today.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.