| (USD) | Mar 2024 | Q/Q |
|---|---|---|
| Revenue | 1.2B | -8% |
| Gross Profit | -527MM | -13% |
| Cost Of Revenue | 1.7B | -10% |
| Operating Income | -1.5B | -6% |
| Operating Expenses | 957MM | -2% |
| Net Income | -1.4B | -5% |
| R&D | 461MM | -12% |
| G&A | 496MM | +10% |
| Interest Expense | 75MM | +3% |
Short Volume Ratio = Short Volume / All Volume. Source of Short Volume data comes from
FinraMoving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.
Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.
Bulls weren't running Tuesday, but they're still in charge. Reddit soared on its first post-IPO earnings report.
Rivian stock angled lower Tuesday after Q1 earnings amid speculation Apple is exploring a partnership with the EV startup.
IRVINE, Calif., May 07, 2024--Rivian Automotive, Inc. (NASDAQ: RIVN) today announced its first quarter 2024 financial results. As previously announced, the company produced 13,980 vehicles and delivered 13,588, exceeding its outlook with a respective 49 percent and 71 percent increase over the same period last year.
Electric-vehicle maker Rivian on Tuesday reiterated its 2024 production forecast, keeping it well below analysts' expectations, as it focuses on restarting production after a shutdown last month to upgrade its assembly line and reduce costs. The company also cut its annual capital expenditure forecast by $550 million to $1.2 billion, as it moved the start of production of its R2 midsize SUV to its Normal, Illinois plant. Analysts were expecting capital spending of $1.59 billion.
The company also cut its annual capital expenditure forecast by $550 million to $1.2 billion, as it moved the start of production of its R2 midsize SUV to its Normal, Illinois plant. Analysts were expecting capital spending of $1.59 billion. In March, Rivian, known for its larger R1S SUVs and R1T pickup trucks, said it would start producing the more affordable R2 vehicles at its existing Illinois factory to speed up deliveries in the first half of 2026 instead of a proposed plant in Georgia.
Rivian reported mixed quarterly results for the first quarter, but will see further cost savings from shifting its upcoming R2 production to its Normal, Ill., plant and trimming its capital expenditure forecast.
Rivian Automotive on Tuesday reported first-quarter revenue that beat Wall Street expectations and reiterated its production forecast of 57,000 units this year, due to sustained demand for its electric vehicles. The company also cut its annual capital expenditure forecast by $550 million to $1.2 billion, as it moved the start of production of its R2 midsize SUV to its Normal, Illinois plant. Analysts were expecting capital spending of $1.59 billion.
**Walt Disney (DIS)**: The entertainment company added streaming customers, but swung to a loss as a result of a charge from an India media venture. Disney raised its full-year guidance. Nonetheless, its shares fell more than 9%.
Will Apple save Rivian stock? (And what if it doesn't?)
Apple and EV maker Rivian are in talks for some form of partnership, DigiTimes reported. The Dow giant scrapped its Apple Car effort in February.