"Rivian's Quarterly EV Deliveries Disappoint, Triggering Stock Plunge Despite Growth"
TL;DR
Rivian Automotive's fourth-quarter vehicle deliveries fell short of market expectations, with 13,972 vehicles delivered compared to the estimated 14,430. This 10% drop from the previous quarter, coupled with high interest rates affecting demand, led to a 10% decline in the company's shares. Despite this, Rivian's annual production exceeded forecasts, and the company remains competitive in the EV market, recently signing a deal with AT&T and maintaining its vehicle prices. Meanwhile, Tesla surpassed its delivery estimates and met its annual goals.
Topics:businessbusinessfinance##businessfinance#electricvehicles#quarterlydeliveries#rivian#stockmarket#tesla
- EV maker Rivian misses quarterly deliveries expectations, shares tank Yahoo Finance
- Rivian stock falls 10% on declining fourth-quarter EV deliveries CNBC
- Rivian Fourth-Quarter Electric Car Deliveries Fall Short of Estimates Bloomberg
- Rivian’s stock falls after 2023 deliveries more than double, but come up shy of forecasts MarketWatch
- Is Rivian Stock a Buy After Today's Big Drop? Yahoo Finance
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