Why Rivian Is Jumping Ahead of Earnings Today
Electric vehicle (EV) investors are eagerly awaiting the fourth-quarter 2022 results that Rivian Automotive (NASDAQ: RIVN) will report after the closing bell today. The stock is jumping ahead of that report. Shares were holding onto a 4.6% gain as of 1 p.m. ET.
Rivian already let investors know it nearly met its target by producing 24,337 vehicles last year. But the company entered last year with the equipment and procedures in place to make 50,000 units. Supply chain issues and other headwinds forced it to scale back production. That led to a nearly 70% drop in shares over the past year.
Investors are now hoping that those problems are behind the upstart EV company and are expecting to hear Rivian will produce and deliver at least 60,000 vehicles this year.
Source Fool.com
