Rivian exceeds Q2 estimates by delivering 12,640 vehicles compared to the expected 11,298

Per Reuters

Rivian recently had a small victory after surpassing second-quarter estimates for the number of vehicles delivered. The company was able to deliver 12,640 vehicles compared to the expected 11,298.

The report by Reuters noted that this resulted in the EV company's shares increasing by 9% during premarket trading. However, this was still far from its annual production target, as the company was trying to reach 50,000 units.

So far, it has been reported that the company struggled with supply chain issues. The company reportedly produced 13,992 vehicles from its Normal, Illinois, manufacturing facility.

This was still 4,597 more compared to its production number in the first quarter of the year. The recent Q2 vehicle deliveries were reportedly a 59% jump from its previous quarter numbers.

Recently, Rivian became one of the latest companies to adopt the Tesla charging standard, the North American Charging Standard (NACS). This was as the company followed other EV-making businesses like Ford and GM, as they also adopted this standard.  

Rivian was also set to lose its Nasdaq-100 index position as it was to be replaced by ON Semiconductor. This was after the company fell 90% from its record-high price in November 2021.

Onsemi had a valuation of $40 billion during the report.

See flow at unusualwhales.com/flow.

Other News:

Resources:

Reuters

tastytrade logo+
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.