{"id":1928040,"date":"2023-05-10T09:26:52","date_gmt":"2023-05-10T13:26:52","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rivian-results-charge-up-shares-amid-ev-startup-gloom\/"},"modified":"2023-05-10T09:31:07","modified_gmt":"2023-05-10T13:31:07","slug":"rivian-results-charge-up-shares-amid-ev-startup-gloom","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rivian-results-charge-up-shares-amid-ev-startup-gloom\/","title":{"rendered":"Rivian&#8217;s success boosts shares in a tough EV startup market."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Frivian-results-charge-up-shares-amid-ev-startup-gloom%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1928040&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Rivian Automotive Inc Shares Rise 7% Despite Stiff Competition<\/h2>\n<p>Shares of Rivian Automotive Inc rose 7% on Wednesday, standing out in a poor quarter for electric-vehicle startups. The company&#8217;s positive earnings reiterated its annual production forecast and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ev-maker-rivian-beats-revenue-estimate-expects-wider-operating-loss\/\" title=\"EV maker Rivian beats revenue estimate, expects wider operating loss\">beat quarterly revenue estimates<\/a>, adding nearly $800 million to its market valuation. <\/p>\n<h3>Stemming Cash Burn<\/h3>\n<p>Rivian&#8217;s move to raise prices last year has helped the EV maker stem cash burn, while peers Lucid Group Inc and Nikola Corp are struggling with ballooning losses. The company&#8217;s expanded offerings, including a larger battery called the &#8220;Max Pack,&#8221; will aid demand, according to CEO RJ Scaringe. <\/p>\n<h3>Competition and Skepticism<\/h3>\n<p>However, some analysts remain skeptical about the prospects of a company caught in a price war started by market leader Tesla Inc and facing increasing competition from well-heeled legacy players such as Ford Motor Co. Michael Shlisky of D.A. Davidson, who was among the 10 analysts that lowered their price target, said, &#8220;We continue to like the truck, but not necessarily the stock and the headlines that may be ahead.&#8221;<\/p>\n<h3>Production Volume and Positive Gross Margins<\/h3>\n<p>Shlisky said Rivian has seen some success in reducing costs by switching to self-made Enduro motors and cheaper lithium iron phosphate batteries, but its efforts to renegotiate with suppliers for lower prices might not yield results as it lacks production volume. Nonetheless, the company is expected to benefit from a pullback in commodity prices and easing supply chain issues. Canaccord Genuity analysts said, &#8220;As sagging EV commodity prices, technology improvements, and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/rivian-results-charge-up-shares-amid-ev-startup-gloom\/\" title=\"Rivian's success boosts shares in a tough EV startup market.\">supply chain loosening positively impact operations<\/a>, we see a logical path to positive gross margins next year.&#8221;<\/p>\n<h3>Graphic Representations<\/h3>\n<ul>\n<li>Graphic: Rivian quarterly loss drops to lowest in over a year &#8211; <a href=\"https:\/\/www.reuters.com\/graphics\/RIVIAN-RESULTS\/gkvlwknaapb\/chart.png\">https:\/\/www.reuters.com\/graphics\/RIVIAN-RESULTS\/gkvlwknaapb\/chart.png<\/a><\/li>\n<li>Graphic: EV stocks throttled by <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/powell-says-its-time-to-retire-the-word-transitory-for-inflation\/\" title=\"Powell Says It's Time to Retire The Word 'Transitory' for Inflation\">supply chain constraints<\/a>, demand woes &#8211; <a href=\"https:\/\/www.reuters.com\/graphics\/RIVIAN-STOCKS\/byvrldooeve\/Pasted%20image%201683711198286.png\">https:\/\/www.reuters.com\/graphics\/RIVIAN-STOCKS\/byvrldooeve\/Pasted%20image%201683711198286.png<\/a><\/li>\n<li>Graphic: Rivian and Lucid account for a fraction of Tesla\u2019s sales &#8211; <a href=\"https:\/\/www.reuters.com\/graphics\/TESLA-ELECTRIC\/STARTUPS\/myvmowmnevr\/chart.png\">https:\/\/www.reuters.com\/graphics\/TESLA-ELECTRIC\/STARTUPS\/myvmowmnevr\/chart.png<\/a><\/li>\n<\/ul>\n<p>Despite the challenges, Rivian Automotive Inc remains a promising player in the EV market, and investors will be watching closely as the company navigates the road ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Akash Sriram (Reuters) \u2013 Shares of Rivian Automotive Inc rose 7% on Wednesday as its positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. Advertisement The company looked set to add nearly $800 million to its market<\/p>\n","protected":false},"author":66,"featured_media":1928041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[6251,4545,26353,4790,16303,5440,6119],"class_list":["post-1928040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-boosts","tag-market","tag-rivians","tag-shares","tag-startup","tag-success","tag-tough"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1928040"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1928041"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1928040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1928040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1928040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}