"Rivian Automotive Inc. announced its new headquarters in Atlanta and expansion of its autonomous driving efforts in London, leading to a 13.9% rise in shares over five trading sessions."
"Despite beating expectations with adjusted losses of $0.48 per share and revenues of $1.24 billion, Rivian's stock fell almost 6% post-earnings announcement, reflecting a 90% decline since its IPO."
"Rivian forecasts lower deliveries for 2025 than in 2024, posing challenges despite the growing EV market projected to expand at a CAGR of 32% through 2030."
"The company's strategic partnerships, R2 launch, and cost efficiencies aim to counter significant obstacles while posting consecutive quarters of positive gross profit."
Rivian Automotive Inc. shares increased 13.9% after announcing new headquarters in Atlanta and autonomous driving expansion in London. Despite beating earnings estimates with adjusted losses of $0.48 per share and $1.24 billion in revenue, the stock fell nearly 6% following the report. Rivian forecasts lower deliveries for 2025 than 2024 despite the EV market's expected 32% CAGR through 2030. The company maintains strong cash positions and has achieved positive gross profit in consecutive quarters while implementing cost efficiencies and strategic partnerships.
Read at 24/7 Wall St.
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