The Good and the Bad for Rivian in Q2: Is It a Buy?
At the close of the market on Thursday last week, America's second-most-valuable electric vehicle maker released its second-quarter earnings report. It was a mixed bag, to say the least, so let's unpack some of the main points and how to think about Rivian (NASDAQ: RIVN) going forward.
Like most companies today, supply chain issues remain formidable obstacles hindering production, and Rivian hasn't been spared. The company admitted the "supply chain continues to be the limiting factor of our production."
Although the company may not be producing as many vehicles as it had hoped, it technically remains on track to meet its production goal. After supply chain issues became more fully understood in Q1, Rivian revised its expectations to produce 25,000 cars this year. Based on current numbers from Q2, they believe they should be able to make 26,000 vehicles. In today's environment, any increase in production should be celebrated.
Source Fool.com
