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Judge says Rivian (RIVN) must face lawsuit claiming it defrauded IPO investors

U.S. District Judge Josephine Staton in Los Angeles has decided that Rivian Automotive (NASDAQ: RIVN) must face a lawsuit claiming it defrauded shareholders during and after its blockbuster 2021 initial public offering. According to the lawsuit filed by lead plaintiff Sjunde AP-Fonden, on behalf of shareholders from Nov. 10, 2021 to March 10, 2022, Rivian underpriced its electric vehicles, leading to unpopular price hikes.

Judge Straton indicated that shareholders can attempt to demonstrate that Rivian, despite... More

North America and Europe lead surge in global EV demand

Analyst Ranulf Orr from Citi Research reported a surge in demand for Battery Electric Vehicles (BEV) in May, with a 46% increase compared to the previous year. The primary drivers of demand growth were Europe and North America, experiencing respective year-on-year rises of 59% and 50%. In contrast, China's growth was more... More

Needham raises estimates on Rivian (RIVN), adds EV maker to Conviction List

Needham reiterated a Buy rating on Rivian (NASDAQ: RIVN) and raised their 12-month price target for the stock to $28.00 (From $26.00) after the electric automaker reported their 2Q production and delivery results. Needham also decided to add RIVN to its Conviction List (replacing ACVA).

RIVN reported Q2 production of ~14k vehicles, representing an... More

DA Davidson Upgrades Rivian Automotive Inc (RIVN) to Neutral, 'The Headlines Gradually Turn Positive'

DA Davidson analyst Michael Shilsky upgraded Rivian Automotive Inc (NASDAQ: RIVN) from Underperform to Neutral with a price target of $18.00 (from $11.00).

The analyst comments "We are upgrading RIVN to NEUTRAL (from UNDERPERFORM) as the cadence of headlines on the company begins to shift... More

Rivian Automotive Inc (RIVN) PT Raised to $28 at Needham & Company, Adds to Conviction List

Needham & Company analyst Chris Pierce raised the price target on Rivian Automotive Inc (NASDAQ: RIVN) to $28.00 (from $26.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating, add RIVN to the Needham Conviction List (replacing ACVA), and raise our... More