Clorox, ConAgra, Rivian fall premarket; Polestar, Blackberry rise
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'Patience is wearing thin' as Wedbush cuts estimates on Rivian (RIVN)
October 9, 2023 8:23 AM EDTWedbush reiterated their Outperform rating on Rivian (NASDAQ: RIVN) but cut their 12-month price target on the stock to $25.00 (From $30.00) as the companys robust demand continues to be overshadowed by execution/messaging missteps.
Just this past week, on the heels of a strong 3Q delivery and production report, the electric automaker announced a $1.5... More
U.S. releases new guidance on EV tax credit rebate rules
October 6, 2023 10:26 AM EDTThe U.S. Treasury Department has issued fresh guidelines on Friday, outlining updated regulations that make it simpler for individuals to recover costs associated with electric vehicle purchases using the existing EV tax incentives.
Beginning on January 1, consumers will have the option to transfer these credits directly to a car dealership, effectively reducing the purchase price for the vehicle. This change is expected to potentially boost EV... More
Polestar (PSNY) reports 50% rise in deliveries in 3Q
October 5, 2023 9:48 AM EDTSwedish electric car maker, Polestar Automotive (NASDAQ: PSNY) released their global delivery numbers for the 3Q of 2023 on Thursday.
Polestar saw a 50% increase in vehicle deliveries during the third quarter compared to the previous year, totaling around 13,900 units. This impressive growth was... More
Rivian (RIVN) sinks after announcing convertible note offering and preliminary results
October 5, 2023 9:11 AM EDTShares of Rivian Automotive (NASDAQ: RIVN) were down nearly 10% in pre-market trading Thursday morning after the electric automaker announced a $1.5Bn green convertible note offering last night along with further preliminary 3Q results.
Rivian plans to raise $1.5 billion through a green convertible senior unsecured notes... More
