What Happened?
Shares of electric vehicle manufacturer Rivian NASDAQ:RIVN jumped 10.2% in the morning session after the company reported stronger-than-expected second-quarter vehicle deliveries and raised its full-year forecast.
Rivian produced 12,613 vehicles and delivered 12,194 in the quarter ending June 30, beating its own guidance of 9,000 to 11,000 deliveries. The company noted the strong results were due to growth in its commercial vans and R1 trucks, coupled with the start of R2 vehicle deliveries.
As a result of this performance and its outlook for the rest of the year, Rivian increased its full-year 2026 delivery guidance to a range of 65,000 to 70,000 vehicles, up from its previous forecast of 62,000 to 67,000.
What Is The Market Telling Us
Rivian’s shares are extremely volatile and have had 36 moves greater than 5% over the last year. But moves this big are rare even for Rivian and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 16 days ago when the stock dropped 4.1% on the news that the company laid off hundreds of employees in a push to reduce costs and become profitable.
According to reports, the layoffs affected less than 2% of the company's workforce across its service, customer, sales, and marketing departments. The restructuring is designed to improve efficiency as the company works toward profitability while preparing to launch a key new model.
The news of the workforce reduction overshadowed a separate announcement that Rivian had partnered with ChargeScape. This partnership aims to enroll Rivian's EV batteries into utility-managed charging programs, which could help drivers save on charging costs while supporting the power grid.
Rivian is down 2.5% since the beginning of the year, and at $18.95 per share, it is trading 15.6% below its 52-week high of $22.45 from December 2025. Investors who bought $1,000 worth of Rivian’s shares at the IPO in November 2021 would now be looking at an investment worth $187.89.
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. .