What Happened?
Shares of electric vehicle manufacturer Rivian (NASDAQ: RIVN) jumped 6.2% in the morning session after the company continued to see positive momentum following strong second-quarter production and delivery numbers late the previous week.
The move extends a rally from the previous week when Rivian announced it had produced 12,613 vehicles and delivered 12,194 in the second quarter. These results comfortably beat the company's own guidance of 9,000 to 11,000 units and also surpassed analyst estimates.
Following the strong performance, Rivian raised its full-year 2026 delivery forecast to a range of 65,000 to 70,000 vehicles, up from a prior forecast of 62,000 to 67,000. The positive results and improved outlook led analysts at firms like Canaccord and Needham to reiterate their 'Buy' ratings on the stock, reinforcing investor confidence.
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What Is The Market Telling Us
Rivian’s shares are extremely volatile and have had 36 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 4 days ago when the stock gained 10.2% on the news that the company reported stronger-than-expected second-quarter vehicle deliveries and raised its full-year forecast.
Rivian produced 12,613 vehicles and delivered 12,194 in the quarter ending June 30, beating its own guidance of 9,000 to 11,000 deliveries. The company noted the strong results were due to growth in its commercial vans and R1 trucks, coupled with the start of R2 vehicle deliveries. As a result of this performance and its outlook for the rest of the year, Rivian increased its full-year 2026 delivery guidance to a range of 65,000 to 70,000 vehicles, up from its previous forecast of 62,000 to 67,000.
Rivian is up 1.8% since the beginning of the year, but at $19.76 per share, it is still trading 12% below its 52-week high of $22.45 from December 2025. Investors who bought $1,000 worth of Rivian’s shares at the IPO in November 2021 would now be looking at an investment worth $196.12.
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