Rivian shares climb following first shipments of Amazon vans to Europe
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Rivian Automotive (RIVN) Extends Gain, Up 12%
July 7, 2023 11:28 AM EDTRivian Automotive (NASDAQ: RIVN) Extends Gain, Up 12%
Judge says Rivian (RIVN) must face lawsuit claiming it defrauded IPO investors
July 6, 2023 1:32 PM EDTU.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
July 5, 2023 9:41 AM EDTAnalyst 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
July 5, 2023 7:58 AM EDTNeedham 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
