What's Going On With Rivian Shares Following Tesla Earnings

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading lower by 2.6% to $30.68 during Thursday's session, potentially amid overall market weakness and following peer EV-maker Tesla Inc (NASDAQ:TSLA) third-quarter earnings report. Tesla shares are lower after the company reported worse-than-expected third-quarter sales results.

So What Happened?

Tesla reported third-quarter revenue of $21.45 billion, up 56% year-over-year. The total came in shy of analyst estimates of $21.96 billion. The company also reported automotive revenue of $18.69 billion in the third quarter, up 55% year-over-year.

In the third quarter, Tesla reported record revenue, free cash flow and operating profits despite what the company called “material headwinds.”...Read More

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According to data from Benzinga Pro, Rivian has a 52-week high of $179.47 and a 52-week low of $19.25.