Rivian stock rallies after reporting 'in line' delivery, production data

Shares of Rivian Automotive Inc. /zigman2/quotes/230726939/composite RIVN +3.91% rallied 3.7% in premarket trading Wednesday, after the electric vehicle maker reported second-quarter deliveries and production that was "in line with the company's expectations." The company said it delivered 4,467 EVs during the quarter, and produced 4,401 EV as its manufacturing facility in Normal, Illinois. The company said it was on track to reach its annual production target of 25,000 EVs. The stock has plunged 74.1% year to date through Tuesday, while shares of larger rival EV maker Tesla Inc. /zigman2/quotes/203558040/lastsale TSLA +4.72% have slumped 33.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% has lost 19.6%.

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Rivian Automotive Inc. Cl A

US : U.S.: Nasdaq

$ 15.14

+0.57 +3.91%

Volume: 26.62M

May 26, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$14.22 billion

Rev. per Employee

$157,485

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Tesla Inc.

US : U.S.: Nasdaq

$ 193.17

+8.70 +4.72%

Volume: 162.06M

May 26, 2023 4:00p

P/E Ratio

56.84

Dividend Yield

N/A

Market Cap

$612.25 billion

Rev. per Employee

$672,911

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S&P 500 Index

US : S&P US

4,205.45

+54.17 +1.30%

Volume: 0.00

May 26, 2023 5:20p