Rivian: Buying Surge On Its Q2 Deliveries Report

Summary:

  • Rivian Automotive, Inc. exceeded analysts’ estimates with Q2 deliveries of 12.64K vehicles, moving closer to its annual target of 50K deliveries.
  • The company’s stock surged well above its critical resistance zone of $16, likely forcing short sellers to flee and cover their positions.
  • However, Rivian Automotive now trades at a premium against its auto industry peers and is no longer available at a discount. Dip buyers have also likely entered earlier.
  • Staying on the sidelines for Rivian stock is still a sensible thing to do.

Electric Truck Maker Rivian Recalls Almost All Of Its Vehicles Over Steering Issue

Mario Tama

Rivian Automotive, Inc. (NASDAQ:RIVN) posted a stunning Q2 deliveries report as CEO RJ Scaringe and his team moved closer to achieving its 50K annual deliveries target.

As reported, Rivian posted deliveries of 12.64K, well above analysts’ estimates of 11K. The performance


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