Rivian Automotive Reports Weak Delivery Figures, Joins JOYY, MiMedx Group And Other Big Stocks Moving Lower On Tuesday

U.S. stocks traded mostly lower, with the Nasdaq Composite falling around 200 points on Tuesday.

Shares of Rivian Automotive, Inc. RIVN fell sharply during Tuesday’s session after the company reported delivery and production figures for 2023.

The company produced 17,541 vehicles (vs. 10,020) at its manufacturing facility in Normal, Illinois, and delivered 13,972 cars in the fourth quarter. The recent-quarter delivery was below the third-quarter figure of 15,564 and below analysts' estimate of 14,430, as per Reuters.

Rivian Automotive shares dipped 9.1% to $21.34 on Tuesday.

Here are some other big stocks recording losses in today’s session.

• Corcept Therapeutics Incorporated CORT shares dipped 26.3% to $23.93 after the company announced the Court for the District of New Jersey issued a decision that Teva Pharmaceuticals does not infringe any asserted claims of Corcept's U.S. Patents 10,195,214 and 10,842,800.
• Anavex Life Sciences Corp. AVXL shares tumbled 26.2% to $6.88 after the company provided an update on Rett Syndrome program.
• Vertex Energy, Inc. VTNR dipped 20.1% to $2.7069 after the company announced it amended its existing term loan agreement, which provides for an incremental $50 million in borrowings to the company.
• JOYY Inc. YY declined 16.2% to $33.27 after the company announced it received a written notice from an affiliate of Baidu purporting to terminate the Share Purchase Agreement, dated Nov. 16, 2020.
• GoodRx Holdings, Inc. GDRX shares tumbled 15.5% to $5.66 after B of A Securities downgraded the stock from Buy to Underperform and lowered its price target from $8 to $4.5.
• Aurora Innovation, Inc. AUR shares declined 13.8% to $3.7605 after the company filed for an $850 million mixed securities shelf offering.
• ToughBuilt Industries, Inc. TBLT fell 13.5% to $8.86.
• Bitdeer Technologies Group BTDR tumbled 12.5% to $8.63.
• AST SpaceMobile, Inc. ASTS fell 11.4% to $5.34.
• Amprius Technologies, Inc. AMPX declined 11.2% to $4.70.
• MiMedx Group, Inc. MDXG dipped 10.9% to $7.82 after the company announced it received a Warning Letter from FDA for AXIOFILL. The company also reiterated its outlook for 2023 full year net sales growth and fourth quarter adjusted EBITDA margin.
• Pulse Biosciences, Inc. PLSE fell 10.7% to $10.93. Pulse Biosciences filed 510(k) submission with the US FDA for its CellFX nsPFA cardiac clamp.
• Fusion Pharmaceuticals Inc. FUSN declined 10.5% to $8.60.
• Savara Inc. SVRA fell 9.7% to $4.24.
• PureTech Health plc PRTC dipped 9.6% to $24.79.
• VinFast Auto Ltd. VFS fell 8.9% to $7.63. VinFast has officially signed agreements with five dealers in four states across the U.S.
• America's Car-Mart, Inc. CRMT fell 8% to $69.70. Stephens & Co. downgraded America's Car-Mart from Overweight to Equal-Weight.
• Fisker Inc. FSR shares declined 7.7% to $1.6141.
• TAL Education Group TAL fell 7.4% to $11.69.
• Arm Holdings plc ARM fell 6.3% to $70.42.

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