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Rivian rises with strong results and future plans

Rivian may be in a good spot for a buy, as the company reported not as bad results as expected. Will this be only a correction?

Results came in not as bad as anticipated

The electric carmaker Rivian reported a lower-than-anticipated Q1 loss. The company’s CEO RJ Scaringe met with CNBC’s Phil LeBeau, who visited the business’s facility in Illinois for a chat discussion the next day.

The company’s announced first-quarter earnings per share of ($1.25), which is above analysts’ expectations ($1.61). The carmaker posted first-quarter sales of $661 million, above analysts’ expectations of $655.51 million.

Rivian’s stock price increased by 11% on Wednesday after the company reported strong quarterly results, which stood out in an otherwise dismal period for electric car companies. Experts cautioned that a fierce market will be a challenge on the road to profitability.

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Rivian’s decision to increase pricing last year has allowed the company to slow its cash burn at a time when rivals Lucid and Nikola are seeing increased losses. Scaringe stressed that increasing output and decreasing expenses are two of Rivian’s primary goals.

Amazon secured the future of Rivian

The carmaker still struggles with supply chain issues. A decrease in commodity costs and the resolution of supply chain concerns are also seen as positive developments for the organization.

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Amazon, a major investor in Rivian, has placed an order for 100,000 EV vans. Rivian’s current partnership with Amazon is exclusive. Scaringe did, however, acknowledge Rivian’s ambition to broaden its client base outside Amazon in the aforementioned interview.

We are working closely with Amazon, both on the exclusivity, but also with other potential customers to get them lined up for vans,” said Scaringe

In comparison to Tesla’s 440,808 vehicles produced in the same time span, Amazon-backed Rivian’s 9,395 output is less than 2%.

Is a bullish comeback possible?

The stock is struggling since the end of last year. The bears have the upper hand with some corrections from the bulls.

The price has halved since December and is starting to look like a good opportunity for the bulls. The last few days show green candles, pushing the stock upwards of the 12.0 support.

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The next resistance could be around 20 in case the bulls keep up the pressure. The long-term aim would be 24.77, where the 200-day average rests at the moment. A breakthrough at this level would indicate a true bullish trend.


Rivian 1D chart, source:, author’s analysis

Tomáš is a financial reporter with US markets as his main field. Tomáš is an aspiring author and entrepreneur aspiring to help people get better in financial knowledge.


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