Rivian Automotive Inc. is slated to update investors about its quarterly earnings on Tuesday after the bell.
The futuristic Tesla truck might not be direct competition with Rivian’s pickups and SUVs, which are marketed for the outdoors and rugged terrain, but it may eat away at the pool of those who desire, and can afford, a Rivian EV. Stock movement: Rivian shares badly have underperformed the broader equity market. So far this year, the stock is down more than 7%, and has lost more than 47% in the past 12 months. That contrasts with an advance of more than 13% and of about 16% for the S&P 500 index SPX in the same timeframes.
Ivana Delevska, founder and chief investment officer officer of Spear Invest, agreed that the cash burn and path to positive margins is at the center of Tuesday’s report and call with analysts. Rivian has guided for positive gross margins in 2024.
Source: News Formal (newsformal.com)
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