The electric vehicle (EV) race is heating up — but not for Rivian Automotive Inc (NASDAQ:RIVN) or Lucid Group Inc (NASDAQ:LCID). Both EV companies are struggling, with their stocks down nearly 50% year-to-date.
As they prepare to release their third-quarter earnings today, investors are bracing for news on their continued losses, with Rivian expecting a loss of 92 cents per share and Lucid a loss of 30 cents.
But there’s more than just the numbers to focus on. Pre-earnings technicals paint a troubling picture for both companies, showing they're facing headwinds that are tough to overcome.
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Rivian: Bearish Momentum, Oversold But Still Dragging
Rivian's stock has taken a beating, down nearly 60% this year alone.
Chart created using Benzinga Pro
It's trading at $9.96, well below key moving averages — the five, 20, 50 and even the 200-day simple moving averages. All signals point to a bearish trend, with technicals flashing bearish signals across the board.
The stock's Relative Strength Index (RSI) is at 41.18, suggesting the stock is nearing oversold conditions and could be due for a slight rebound. However, with the MACD indicator at a negative 0.33, there’s little bullish momentum to rely on.
Still, Rivian is banking on its lower-priced R2 and R3 platforms set to launch in 2026 and 2027 to drive future sales. The big question is: Can it weather the current storm and rally post-earnings, or will it continue to face investor skepticism?
Lucid: Struggling, But Staying Liquid
Lucid's stock, similarly down 46% YTD, is also on shaky ground.
Chart created using Benzinga Pro
Trading at $2.22, it’s well below its moving averages, signaling that selling pressure continues to dominate. Lucid’s RSI is even worse at 27.94, flashing an oversold signal that suggests potential short-term relief might be coming — but don't bet on a long-term rally just yet.
The recent $1.75 billion public offering shows that Lucid is trying to secure enough cash to keep operations going and fund future growth. But with the company still bleeding red, investors are eager to see if Lucid's Gravity SUV and new orders will provide a much-needed lifeline.
Pre-earnings, it looks like the road ahead is still full of bumps.
Rivian Vs. Lucid: Who's Ready For A Post-Earnings Rebound?
Both Rivian and Lucid are in the same boat — struggling stocks with promising products, but both facing steep losses and bearish technicals. The market’s expectations for their third quarter earnings are low, and the question is whether either of them can surprise to the upside, or if the downtrend will continue.
For investors, the technicals suggest it's a cautious ride ahead, with the potential for some short-term volatility — especially in the post-earnings reactions.
Both stocks have oversold or near-oversold indicators, so a bounce isn't out of the question, but any long-term recovery will depend on the companies proving they can actually deliver on the hype around their EVs.
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