RIVIAN SHARE PRICE
Tesla shares rally over 10% as quarterly deliveries beat estimates
Tesla on Tuesday reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter, as the electric-vehicle maker's price cuts and incentives helped stimulate demand.
Rivian jumps 36% as $5 bln Volkswagen investment signals 'vote of confidence'
The investment is set to reinforce Rivian's dwindling cash reserves, push the startup nearer to profitability, and enhance its competitive stance in a market led by Tesla. As part of the agreement, Rivian will establish a joint venture with Volkswagen that is equally managed by both companies. This partnership will involve sharing electric vehicle architecture and software, which could later be utilized by Volkswagen's brands such as Audi, Porsche, and Lamborghini.
Volkswagen's $5 billion investment in Rivian boosts EV maker's shares
Rivian secures vital funding through Volkswagen's investment, enabling the launch of new EV models. The partnership signifies a significant step towards technological advancement and financial sustainability in the competitive electric vehicle market.
Aramco sale set to raise at least $11.2 billion for Saudi Arabia
Saudi Aramco's mega stock offering, set to raise $11.2 billion, supports the government's economic transformation. The sale includes Aramco's $124 billion dividend, attracting foreign investors despite challenges in the oil market.
Tesla erases $80 bln in valuation after Musk's sales warning
Tesla tumbled over 12% on Thursday after CEO Elon Musk warned sales growth would slow this year despite price cuts that have already hurt margins at the world's most valuable automaker and fueled investor concerns about soft demand and Chinese competition.
Tesla set to erase $50 billion in valuation after Musk's sales warning
Tesla tumbled nearly 9% on Thursday. Musk said growth would be "notably lower" as Tesla focuses on a cheaper, next-generation electric vehicle to be made at its Texas factory in the second half of 2025, which is expected to spark the next boom in deliveries.
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Tesla tanks around 9%; CEO Musk's demand warning sparks selloff in EV stocks
Rivals including Rivian Automotive, Lucid Group and Fisker fell between 3.3% and 4.5%, while legacy automakers such as Ford were down around 0.6%. The comments marked a change in tone from Tesla CEO Musk, who had said last year that his company was "recession-resilient". The EV maker missed revenue estimates on Wednesday by the most in more than three years despite hefty price cuts.
Rivian CEO says bond issue does not reflect concerns about EV maker's financial health
Electric vehicle maker Rivian's recent bond issuance was aimed at bolstering its balance sheet ahead of potential geopolitical risks that could increase borrowing costs, according to CEO RJ Scaringe.
Elon Musk-led Tesla's rivals scrap for thin slices of US EV sales
Ford's decision to halt a planned $3.5 billion battery plant in Michigan highlights the challenge faced by Tesla's competitors in the US market. Most automakers are launching new electric vehicles (EVs) and investing in EV and battery plants, but few are selling at high enough volumes to justify a full-scale assembly plant.
Tesla shares gain as Baird Equity adds stock to 'best ideas' list
Tesla sparked a price war earlier this year and last week slashed prices of three models in China. It also launched a cheaper version of the Model S sedan and Model X SUV on Aug. 14 as it looks to stoke demand and grab a larger share of the market.
Rivian's stock rallies to highest in 2023 after posting strong deliveries
Shares of Rivian Automotive surged more than 18% on Friday as it continued to rally after the electric vehicle (EV) maker reported better-than-expected quarterly deliveries early this week.
Rivian beats estimates for second-quarter EV deliveries
Amazon-backed Rivian has been struggling to lift output, pressured by supply-chain disruptions and a price war started by market leader Tesla. The Irvine, California-based startup, which makes R1T pickup trucks and R1S SUVs, has been developing its own drive unit to lower costs and reduce dependency on suppliers.
US electric vehicle startups set for another quarter of steep cash burn
Having gone public with hopes of shaking up the automobile industry, these companies have seen their market valuations evaporate in the past few months as EV demand slows.
Rivian plans to sell $1.3 billion in bonds to shore up capital, shares fall
Shares in Rivian fell nearly 7% in after-hours trading. Initial investors will get an option to buy an additional $200 million of the bonds for settlement 13 days after the bonds are issued, Rivian said in a statement.
Tesla's price cuts promise more pain for money-losing US EV startups
Tesla's move last week to slash prices globally on its EVs by as much as 20% could draw new buyers to electric cars in the industry, but also will force other automakers to respond with lower prices or risk getting left behind, analysts and investors said.
US stock market: Wall Street rallies with inflation, Fed on tap
Consumer inflation data will be closely monitored on Tuesday, and is expected to show prices increased by 7.3% in November on an annual basis, slowing from the 7.7% rise in the previous month, while the "core" reading which excludes food and energy is expected to show a 6.1% increase from the 6.3% in the prior month.
Amazon sees resilient consumer demand as shares jump 13%
Shares of the world's largest online retailer rose 13% in trading after the bell, extending its market valuation by more than $150 billion.
Wall Street ends up as investors absorb Fed minutes
The 0.75 percentage-point rate increase which came out of the meeting was the first of that size since 1994. According to the minutes, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the policy meeting later this month.
EV maker Rivian's deliveries nearly quadruple as it ramps up production
The company, which went public late last year and counts Amazon.com Inc as an investor and customer, has been ramping up production of its R1S sport utility vehicle and R1T pickup truck. It has also benefited from soaring demand for electric vehicles. Rivian said it produced 4,401 vehicles in the second quarter at its manufacturing facility in Normal, Illinois, up from 2,553 vehicles in the previous quarter.
Amazon's net loss prompts query: Has it built too many warehouses?
The world's largest online retailer on Thursday reported $2 billion in incremental costs from having excess fulfillment and transportation capacity, a dramatic shift from just two years ago when Amazon had to turn away merchants' goods because it had room only for vital supplies.
Rivian shares tumble as supply-chain woes cut production outlook in half
Rivian, other startups and legacy automakers such as Ford Motor Co and General Motors Co face tough competition from market leader Tesla Inc as they aim to start delivering more electric vehicles in the near future.
Billionaire George Soros buys stake in EV startup Rivian
The 19,835,761 shares, worth about $2 billion at the time, makes Soros Fund Management among the most prominent investors in a company that has yet to produce a consumer vehicle.
Rivian stock skids as legacy automakers rev up EV targets
Rivian's stock has slumped about 14% since the start of Wednesday, when Amazon.com Inc, one of Rivian's biggest investors, said it teamed up with carmaker Stellantis NV .
Global IPOs smash previous record, blow past $600-billion mark
Leading the pack is electric-truck startup Rivian Automotive, which raised nearly $12 billion in New York this month. Asia's biggest was China Telecom's 54 billion-yuan ($8.4 billion) IPO in August, while Polish parcel-locker provider InPost SA seized the top spot in Europe with its 2.8 billion-euro ($3.2 billion) Amsterdam listing in January.
Rivian valued at over $100 billion on listing after biggest IPO of 2021
That made the Amazon-backed Rivian the second most valuable US automaker after Tesla, which is worth $1.06 trillion. It ranked ahead of General Motors Co. at $86.05 billion, Ford Motor Co. at $77.37 billion, and Lucid Group at $65.96 billion.
Rivian investors hoping it's going to be the next Tesla
In the first day of trading after its initial public offering, Rivian’s stock jumped 29%, putting its market value at $86 billion — in line with GM’s and higher than Ford’s.
Rivian valued at over $100 billion in debut, after world's biggest IPO of 2021
Amazon.com Inc is Rivian's largest shareholder with a 20% stake.
EV startup Rivian targets $65 billion valuation in IPO
The company, which last month disclosed nearly $1 billion in losses for the first half of this year, said it will sell 135 million shares at a price range of between $72 and $74 each.
EV startup Rivian could be worth nearly as much as Honda in US IPO
Only three other companies have raised more than $8 billion while going public since 2011, according to data from Dealogic. Alibaba raised a record $25 billion in 2014, Meta Platforms Inc garnered $16 billion in 2012, while Uber made $8.1 billion in 2019.
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