Is Rivian Stock a Buy Now?
With Rivian Automotive (NASDAQ: RIVN) set to report earnings after the market close on Nov. 4, investors may be wondering if the stock is a buy now. The company has already released its production and delivery numbers early in October, so there will be no surprises there.
It delivered 13,201 vehicles in the third quarter, while producing 10,720. That was up substantially from Q2, when it delivered 10,661 new electric vehicles (EVs) and made just 5,979 new SUVs. Analysts were expecting 12,955 deliveries in the quarter.
The production numbers were down in Q2 due to supply chain issues related to tariffs. Meanwhile, production was up in Q3 despite the company shutting down production lines for three weeks in September to increase its annual production capacity. However, deliveries likely got a boost and drivers ran out to buy EVs before the end of the $7,500 federal EV tax credit in September.
Source Fool.com
