As of March 11, 2025, Rivian Automotive Inc. (NASDAQ: RIVN) is trading at $10.96 per share, reflecting a decrease of approximately 1.88% from the previous close.
Rivian Automotive Inc (RIVN)
$10.96
-$0.21(-1.88%)Today
$11.06+$0.10(+0.91%)Pre-Market
Recent Developments:
- Financial Performance: In Q4 2024, Rivian reported its first positive gross profit of $170 million, attributed to cost-cutting measures and increased sales of regulatory credits. However, the company anticipates delivering between 46,000 and 51,000 vehicles in 2025, lower than the 51,579 units sold in 2024.
- Partnership with Volkswagen: Rivian and Volkswagen have formed a joint venture, with Volkswagen investing $1 billion for a 16% stake. This collaboration aims to develop advanced EV technologies, with the first models expected by 2027.
- Analyst Ratings: Bank of America downgraded Rivian’s stock from “neutral” to “underperform,” citing concerns over EV demand, potential policy changes affecting government support for EVs, and increased competition in the EV market.
Investors should carefully consider these factors when evaluating Rivian’s stock performance.