"The stock seems to be on a rally of late following a skid that began in late September. On the year, RIVN is now up 41.43%, and over the past year, it's up 64.15%. When Rivian reported Q3 earnings on Nov. 4, it beat on the top line but missed on the bottom line with quarterly EPS of 65 cents versus 72 expected, and revenue of $1.56 billion beating expectations of $1.5 billion."
"The EV-maker continues to work on its Georgia plant, which is slated to open in 2028. This past summer, Rivian announced a partnership with Google Maps on a new navigation system for its electric vehicles. Rivian will continue to offer its own customized navigation interface on the 15.6-inch center touchscreen, but the underlying data is now powered by the Automotive SDK from Google Maps instead of third-party alternatives."
Rivian shares rallied recently, gaining 17.25% over five trading sessions following earlier gains, leaving the stock up 41.43% year-to-date and 64.15% over one year. Q3 results showed revenue of $1.56 billion beating expectations while EPS of 65 cents missed the 72-cent estimate. Institutional investors hold 56.26% of the float, with Amazon as the largest holder at more than 158 million shares. Production expansion includes a Georgia plant slated to open in 2028. Rivian partnered with Google Maps to power navigation data while retaining a customized 15.6-inch touchscreen interface. The IPO surge in November 2021 briefly pushed shares near $180.
Read at 24/7 Wall St.
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