Rivian Automotive's stock increased by 2.65% recently, while year-to-date losses are at 6.34% and a year-long decline at 8.28%. Plans for a Georgia plant set for 2028 were announced. A partnership with Google Maps will enhance Rivian’s navigation system. Guggenheim downgraded Rivian's rating to Neutral. To address cash flow concerns, Rivian plans to issue $1.25 billion in secured green notes to redeem outstanding debt. Despite challenges, improvements in gross profit were noted, though institutional investor sentiment remains cautious.
Shares of Rivian Automotive (NASDAQ:RIVN) increased by 2.65% in the last five trading sessions but still show a year-to-date loss of 6.34% and an 8.28% decline over the past year.
In July, Rivian announced advancements on its Georgia plant set to open in 2028, alongside a partnership with Google Maps for a new navigation system, enhancing EV navigation.
Guggenheim downgraded Rivian from Buy to Neutral amid expected vehicle delivery slumps while announcing a $1.25 billion offering of senior secured green notes to manage debt.
Rivian reported a negative gross profit of $1.2 billion for the full year against $2 billion from 2023, with Q4 showing potential for record profits.
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