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Rivian Automotive rallies after releasing Q2 production tally

Jul. 06, 2022 9:11 AM ETRivian Automotive, Inc. (RIVN)By: Clark Schultz, SA News Editor81 Comments

Electric Truck Maker Rivian Debuts On The Nasdaq Exchange

Michael M. Santiago

Rivian Automotive Inc. (NASDAQ:RIVN) announced that it produced 4,401 vehicles at its manufacturing facility in Normal, Illinois during Q2 and delivered 4,467 vehicles during the same period.

The automaker said it believes it is on track to deliver

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Comments (81)

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Short ESG profile picture
Total garbage stock
@Short ESG Total garbage comment
Zeusy Zeus profile picture
@Short ESG only garbage people make comments like that with 0 substance and reasoning.
Short ESG profile picture
@Zeusy Zeus OK. It is worthless ESG trash that is being held up by the false premise that CO2 is destroying the planet. When the hype is over and the truth prevails this company will go BK. It will probably go BK sooner than that even. It is just an opinion, no need to get butt hurt.
Stock pop to fade soon. Meeting a 50% reduced production of 25,000 is is nothing to get excited when
you compared to earlier production forecast of 50,000. Moreover, due to nickel, lithium, etc have risen substantially.
Zeusy Zeus profile picture
@gac1521 that’s why the price has fallen so much. It’s already priced in. Everything is down right now. All basic common knowledge but hey I’ll respond 🤷🏻‍♂️
Dives in Aeternum profile picture
Lot of bullishness on this thread. You have a capital intensive, highly competitive business that's just starting production into a rising interest rate environment (your payment just went up), a probable recession and rising commodity prices. On top of that the valuation is rich. 1) They have a lot of cash - Of course they do, they'll need it as they plan to build out their factories, this cash will be used within a few quarters. 2) Chip supply's are improving - Cool so they might meet their original targets if they have no other production issues along the way. This isn't bullish its just base case. Good luck longs, I'll take the other side on any moves above $30.
Zeusy Zeus profile picture
@Dives in Aeternum All basic info people have been regurgitating for months now but thank you. A ton of people said they wouldn’t even make it this far and some bullish news comes out and sure enough more negativity. That’s how SA rolls now. Lot of people with puts are going to be very disappointed in the coming months as things get better throughout the supply chain and economy. Recession is most likely already here. Studies have shown that we find out we were in a recession at earliest 6 months to a year after it’s already begun.
Dives in Aeternum profile picture
@Zeusy Zeus Your welcome. Happy to regurgitate common sense on you all day. Time will tell who is correct.
@Dives in Aeternum YOU'RE. Try regurgitating with better grammar.
Good progress and they continue to execute... still overvalued.
Lots of comments about this is not Tesla and they make no money. Tesla made no money in 2013. Delivered about 22k vehicles and had 1.2 billion on hand. Had a market cap of 18 billion. Rivian seems under valued to me.
Zeusy Zeus profile picture
@stockjunkie81 Because people are skeptical and rightfully so in a downward trajectory economy with rising interest rates and supply chain issues. It’s easy to be bearish on companies during difficult times. But winning stocks are made on the downslope when others are fearful. Long term this company will dominate they’re just getting started. It’s impossible to compare it to Tesla at this stage but they have all the recipes for success in the future. As long as they continue executing they will be profitable by 2024 and in 2025 if they can maximize the output of the new factory in Georgia they will absolutely kill it. The R2 platform will be a game changer just wait and see.
Very nice rally. Let's see if this trend can continue.
Zeusy Zeus profile picture
@Chris1w short term most likely not lot of hype but economic pressure will bring it back down. This is a long term play for anyone who’s bullish on the inevitable EV ecosystem.
RIVN says it will produce the 50% production cuts the company.
The 25,000 potential cars will be sold and a HUGE loss. The cost of lithium (which has tripled) and other material will crush them financially.

Ford 150 EV cost a fraction to Rivian expensive truck. Tesla will be coming with their truck early next year. Not even mentioning the legacy companies.

Rivian is overvalued by a mile. See you below $10. This is not Tesla. It’s just another EV player among many.
@gac1521 You don't know what hell you're talking about.
Gary J is Rich on AMZN profile picture

"Rivian is overvalued by a mile. See you below $10"

Well at least the clueless are up to double now.

"Gary J is Rich on AMZN
Today, 9:13 AM

Comments (34.88K)"
Whatever happened to the going to $5 people?
Zeusy Zeus profile picture
@gac1521 F150 premium version which is the only truck they have that compared to the R1T is priced at 90k so I honestly have no idea what you’re talking about. They have lower priced versions but you cannot compare them to the R1T they’re far far inferior. I suggest you look up reviews of the R1T vs the premium F150 lightning I think you’ll be surprised at just how comparable they are. Mind you this is Rivians first flagship vehicle ever… to release such a great product this early is quite the milestone. They will continue to learn and build off this… of course not without their barriers and difficulties which is only normal to any auto manufacturer.
This morning Paramont's CBS Morning show ran a special segment about the wonderful Rivian company, and
its young, lovable, socially conscious, making-money-is-not-important-to-me, I-just-want-a-better-world CEO.
Gosh, what a lucky coincidence.
Zeusy Zeus profile picture
@corvid Haha true quite the coincidence. Market manipulation is real. Although I think RJ is the perfect CEO for a company like Rivian and his vision is contagious throughout Americans as we move forward into a greener ecosystem.
$25B market cap... think about that. 25k cars, but you are paying for $25B. How does that math make sense in a high interest and potential recessionary environment?
charly333 profile picture
@SPDY84 A lot of the market cap is cash, but an increase of more than $2B for this news is a joke. Traders are still chasing stocks on minor news.

I guess to own RIVN stock will not be healthy in the long run.
Djreef1966 profile picture
@SPDY84 O, but it made sense when TSLA was $160?
Investing to do Good profile picture
@Djreef1966 yes - RIVIAN doesn't
ronald61239 profile picture
Very heart warming to now that after cutting the production plan in half for the year it is now going to meet plan.
Juan Carlos Zuleta profile picture
I have always thought that there is nothing better to raise the price of your stock than to deliver your products. It's great to know that Rivian is now ramping up production. Electric vehicle competition becomes more interesting.
Zeusy Zeus profile picture
@Juan Carlos Zuleta Definitely some great news that they are on track. Unfortunately they had to lower expectations earlier this year but it was necessary considering these macroeconomic conditions. It will take a long time to regain the confidence they once had but I believe they will if they keep delivering. Great company.
Juan Carlos Zuleta profile picture
@Zeusy Zeus Absolutely. They need to keep delivering to regain the confidence they once had. Thanks for your reply.
David G. profile picture
For the last 4 months...." Rivian can not possibly ramp up production to meet 25K vehicles: DOOMED!"...all those people have now scattered into the wind.
thehulk10 profile picture
@David G. They produced 4.5K Q2 and 2.5K Q1. They are at 7K for the year. So they have 18K more to go. 7k in Q3 and 11K in Q4 would get them to their goal. Can they keep up the growth?
@thehulk10 Do you understand what "ramp" means?
David G. profile picture
@thehulk10 Yes. Because anyone who has paid attention knows Rivian is starting a new work shift soon. So if just one shift can produce 4400+ vehicles, guess what a second shift can produce? 4400+ vehicles. And then you add 4400 + 4400 per quarter. Except they get more efficient each quarter and have more chips on hand each quarter.
David G. profile picture
This is a stronnnnnnnng buy. The chip supply and production efficiency only gets better as time passes. Wait until that second shift starts soon.
Eponymous One profile picture
@David G.

SOXL crew seems to be holding its heading
Eponymous One profile picture
I mighta picked up the last share of Rivian below $30

I initiated a starter position a few minutes ago after checking on the prospects of near term SMR backup for the designated power grid.

Coincidentally, she popped above $30 almost instantly.

I know I know correlation is not causation.

But without correlation there is no causation.

Rather than gather data to prove some ill defined scientific thesis on behalf of some another self destructing Borg trapped in a legacy zero sum environment perhaps more simply connect the right dots to success in the real world.
Who Dat? profile picture
They better hurry because Toyota will be releasing their Tacoma EV and Kia EV9 next year.
@Who Dat? Toyota is last to the EV party, why even mention them?
Zeusy Zeus profile picture
@Who Dat? Different market. Have you seen the inside of a Tacoma? Rivians vehicles are where luxury meets sports. As long as they can product vehicles there will be people that will buy them. Luxury vehicles sell to a different class of consumers and trust me there’s plenty of them.
Djreef1966 profile picture
The chip and other supply chain issues are resolving just as I said they would.
Djreef1966 profile picture
@Djreef1966 here’s even more evidence -

Kansas King profile picture
Rivian is interesting. Luxury truck at luxury price. I will look forward to seeing how they perform in a challenging economic environment. My suspicion is that there will be plenty of buyers. Lots of Mercedes, BMW, Land Rover, and Audi customers that would probably be more than happy to jump ship if Rivian can prove their trucks are semi-reliable. Not that any of those vehicles are reliable but at least getting service is more or less readily available for existing brands.
Zeusy Zeus profile picture
@Kansas King Wait so we aren’t Ins. Challenging economic environment now?
I’ll take how you know we haven’t bottomed for $600, Alex
I've seen a few on the road now. They are interesting. Not my cup of tea, but I do turn my head to look at it. Hard pass for me. but I like the innovation
Legacy Legends, LLC profile picture

I had the same reaction. I saw 3 on the road one hauling a trailer in the slow truck lane in California over the weekend.
Who Dat? profile picture
The R1T does not have the WOW factor. Just another truck with fancy lightings.
Djreef1966 profile picture
@Legacy Legends, LLC I saw 7 of them on a carrier on I-57 south of Chicago last month. Very interesting looking.
Gary J is Rich on AMZN profile picture
Whatever happened to the going to $5 people?
Mathieu Hamel profile picture
@Gary J is Rich on AMZN they will be occupied covering
Zeusy Zeus profile picture
@Gary J is Rich on AMZN they’re still here except they’re saying the company will be bankrupt and only legacy makers like Tesla and Ford will survive. Too much hard work for new companies to survive they don’t know any better according to them. Time will tell.

One thing that worries me though is 4400 delivered and produced that puts them somewhere at 7k for half the year correct? That means they need another 18k vehicles in 2 quarters to hit their goal of 25k… means double this last quarter for the next 2 quarter. Sounds unlikely. Any thoughts?
@Gary J is Rich on AMZN

Still is. Did you think it’d happen instantly?

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