Rivian Stock Slides As Interest Rate Fears Overshadow Strategic Wins

Benzinga

Rivian shares slipped despite reporting strong Q3 results and its first consolidated gross profit. Broader market pressure from Fed warnings on inflation weighed on the stock as rising rates threaten EV financing and long-term profitability ahead of the R2 launch.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street!

00:03Rivian automotive shares fell on Thursday as broader market pressure offset a week of

00:07strong company news, according to Benzinga.

00:10Rivian reported third-quarter revenue of $1.56 billion and posted its first consolidated

00:16gross profit.

00:17The pullback comes even after Rivian reported strong third-quarter results, achieved its

00:22first consolidated gross profit, and introduced a new performance package for CEO R.J. Skaringe.

00:29Shares declined after Federal Reserve officials warned about persistent inflation and reduced

00:33expectations for rate cuts.

00:35Higher rates increase Rivian's borrowing costs as it prepares for the launch of its R2 SUV

00:40in 2026 and reduced the present value of its long-term profit outlook.

00:46Shares traded at $16.37, down 6.54% on Thursday.

00:51For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended