Trending · Fact CheckPremium Feature Moneyball Superscore 64 /100 Today's Change ( -3.12 %) $ -0.46 Current Price $ 14.30 Rivian Automotive ( RIVN -3.12% ) , the maker of electric pickup trucks, SUVs, and commercial delivery vans closed at $14.30, down 3.12%. Shares spiked at the open after the positive Q3 delivery news was announced. Still, investors later focused on the unchanged full-year outlook and are watching for Rivian's Oct. 29 full financial results.
Trading volume reached 59.1 million shares, coming in about 107% above its three-month average of 28.6 million shares. Rivian Automotive IPO'd in 2021 and has fallen 86% since going public. How the markets moved today The S&P 500 ( ^GSPC +0.73% ) closed at 7,723, up 0.74%, and the Nasdaq Composite ( ^IXIC +1.19% ) finished at 27,191, up 1.19%.
Among electric vehicle (EV) manufacturers of automobiles and light trucks, Tesla closed at $370.59, up 4.65%, while Lucid Group closed at $4.13, down 1.43%, highlighting a mixed session for EV names. What this means for investors Friday's delivery update revealed 19,248 vehicles delivered and 19,751 produced. Those were strong numbers, but still in line with company expectations.
It led Rivian to reaffirm its 2026 delivery outlook. That was underwhelming for investors, and Rivian stock gave back all the early gain and more. To meet the full-year vehicle delivery guidance, the company will need to report over 28,000 units shipped in Q4 to reach the high end of the range.
That's what investors are waiting to see. The Q3 results represented a 46% increase over the same period last year. Yet the company's estimates for this year suggest it could nearly triple fourth-quarter deliveries from last year.
If Rivian achieves that, it would confirm growth and momentum, and that may be when investors will decide to move shares higher. Howard Smith has positions in Lucid Group, Rivian Automotive, and Tesla. The Motley Fool has positions in and recommends Tesla.
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Source: The Motley Fool
